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GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value USD Voting Ownership BASIC MATERIALS 1-Page Ltd Australia 527,792 64,527 0.66 0.66 Abou Kir Fertilizers & Chemical Industries Egypt 34,801,480 4,254,798 0.28 0.28 AB Grigeo Lithuania 10,151,828 1,241,153 1.13 1.13 Acacia Mining PLC United Kingdom 76,719,432 9,379,649 0.85 0.85 Acerinox SA Spain 321,563,612 39,314,079 1 1 Achilles Corp Japan 62,817,522 7,680,014 2.08 2.08 Acron PJSC Russia 514,050,181 62,847,314 2.31 2.31 ACN 004 410 833 Ltd Australia 134,374 16,428 0.72 0.72 Advanced Petrochemical Co Saudi Arabia 162,352,244 19,849,040 0.83 AdvanSix Inc United States 245,638,160 30,031,501 2.34 2.34 ADEKA Corp Japan 213,266,072 26,073,719 1.43 1.43 Afarak Group OYJ Finland 3,185,497 389,456 0.15 0.15 African Rainbow Minerals Ltd South Africa 351,854,840 43,017,457 1.81 1.81 Agnico Eagle Mines Ltd Canada 725,638,576 88,715,922 0.82 0.82 Agrium Inc Canada 1,200,612,657 146,785,827 0.92 0.92 AGES Industri AB Sweden 320,710 39,210 0.01 0.05 Ahlstrom-Munksjo Oyj Finland 20,247,700 2,475,466 0.12 0.12 Aichi Steel Corp Japan 84,213,685 10,295,890 1.29 1.29 Air Liquide SA France 4,916,476,787 601,084,045 1.11 1.11 Air Products & Chemicals Inc United States 711,307,985 86,963,877 0.24 0.24 Air Water Inc Japan 117,773,474 14,398,879 0.34 0.34 GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017 1 Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, the country of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country is defined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The country association methodology was updated as of 2014.
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Page 1: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT31 DECEMBER 2017

Country Market valueNOK

Market valueUSD Voting Ownership

BASIC MATERIALS

1-Page Ltd Australia 527,792 64,527 0.66 0.66

Abou Kir Fertilizers & Chemical

IndustriesEgypt 34,801,480 4,254,798 0.28 0.28

AB Grigeo Lithuania 10,151,828 1,241,153 1.13 1.13

Acacia Mining PLCUnited

Kingdom76,719,432 9,379,649 0.85 0.85

Acerinox SA Spain 321,563,612 39,314,079 1 1

Achilles Corp Japan 62,817,522 7,680,014 2.08 2.08

Acron PJSC Russia 514,050,181 62,847,314 2.31 2.31

ACN 004 410 833 Ltd Australia 134,374 16,428 0.72 0.72

Advanced Petrochemical CoSaudi

Arabia162,352,244 19,849,040 0.83

AdvanSix IncUnited

States245,638,160 30,031,501 2.34 2.34

ADEKA Corp Japan 213,266,072 26,073,719 1.43 1.43

Afarak Group OYJ Finland 3,185,497 389,456 0.15 0.15

African Rainbow Minerals Ltd South Africa 351,854,840 43,017,457 1.81 1.81

Agnico Eagle Mines Ltd Canada 725,638,576 88,715,922 0.82 0.82

Agrium Inc Canada 1,200,612,657 146,785,827 0.92 0.92

AGES Industri AB Sweden 320,710 39,210 0.01 0.05

Ahlstrom-Munksjo Oyj Finland 20,247,700 2,475,466 0.12 0.12

Aichi Steel Corp Japan 84,213,685 10,295,890 1.29 1.29

Air Liquide SA France 4,916,476,787 601,084,045 1.11 1.11

Air Products & Chemicals IncUnited

States711,307,985 86,963,877 0.24 0.24

Air Water Inc Japan 117,773,474 14,398,879 0.34 0.34

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20171

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 2: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Aksa Akrilik Kimya Sanayii AS Turkey 53,197,793 6,503,915 1.04 1.04

Akzo Nobel NV Netherlands 5,232,486,892 639,719,158 2.89 2.89

AK Holdings Inc South Korea 293,663,468 35,903,032 4.24 4.24

AK Steel Holding CorpUnited

States84,417,487 10,320,806 0.58 0.58

Alamos Gold Inc Canada 41,546,684 5,079,460 0.2 0.2

Albemarle CorpUnited

States970,073,578 118,600,326 0.84 0.84

Alcoa CorpUnited

States4,159,164,169 508,495,684 5.1 5.1

Alkim Alkali Kimya AS Turkey 39,751,747 4,860,013 2.98 2.98

Allegheny Technologies IncUnited

States213,972,874 26,160,132 0.86 0.86

Alpek SAB de CV Mexico 354,339,775 43,321,263 1.71 1.71

Alrosa PJSC Russia 816,680,189 99,846,588 1.04 1.04

Altri SGPS SA Portugal 253,303,844 30,968,701 2.43 2.43

Alujain CorpSaudi

Arabia89,138,022 10,897,935 2.83

Alumetal SA Poland 22,488,462 2,749,419 1.14 1.14

Alumina Ltd Australia 629,014,750 76,902,780 1.41 1.41

Aluminium Bahrain BSC Bahrain 464,856,479 56,832,937 2.47 2.47

AMAG Austria Metall AG Austria 46,493,155 5,684,211 0.26 0.26

Angang Steel Co Ltd China 176,195,919 21,541,555 0.33 0.33

AngloGold Ashanti Ltd South Africa 442,187,337 54,061,427 1.26 1.26

Anglo American Platinum Ltd South Africa 174,249,270 21,303,560 0.28 0.28

Anglo American PLCUnited

Kingdom1,621,737,554 198,272,180 0.74 0.74

Ann Joo Resources Bhd Malaysia 16,511,676 2,018,703 0.41 0.41

Antofagasta PLCUnited

Kingdom105,409,125 12,887,225 0.1 0.1

APERAM SA Netherlands 750,155,246 91,713,308 2.08 2.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20172

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 3: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Aquafil SpA Italy 6,664,165 814,755 0.13 0.11

Arakawa Chemical Industries Ltd Japan 92,046,852 11,253,566 2.65 2.65

ArcelorMittal Netherlands 2,628,144,465 321,314,587 0.97 0.97

Arctic Paper SA Poland 13,583,193 1,660,669 2.07 2.07

Argonaut Gold Inc Canada 44,652,024 5,459,116 1.61 1.61

Arkema SA France 928,376,006 113,502,418 1.09 1.23

Asahi Holdings Inc Japan 195,076,200 23,849,841 3.5 3.5

Asahi Kasei Corp Japan 2,231,915,321 272,871,967 1.51 1.51

Ashland Global Holdings IncUnited

States328,928,824 40,214,543 0.91 0.91

Asian Bamboo AG Germany 101,097 12,360 3.34 3.34

Asia Polymer Corp Taiwan 20,920,874 2,557,767 0.76 0.76

Assore Ltd South Africa 40,621,216 4,966,313 0.12 0.12

ASAHI YUKIZAI CORP Japan 35,765,890 4,372,706 1.19 1.19

Aurubis AG Germany 922,465,136 112,779,761 2.75 2.75

Avery Dennison CorpUnited

States867,495,294 106,059,197 1.05 1.05

Axalta Coating Systems LtdUnited

States1,980,916,332 242,185,055 3.07 3.07

A Schulman IncUnited

States223,688,712 27,347,981 2.49 2.49

B2Gold Corp Canada 244,905,007 29,941,867 0.99 0.99

Balchem CorpUnited

States291,692,259 35,662,034 1.38 1.38

Bando Chemical Industries Ltd Japan 98,282,588 12,015,941 2.17 2.17

Bayer AG Germany 18,893,802,210 2,309,939,324 2.17 2.17

Bayer CropScience Ltd/India India 9,210,681 1,126,090 0.05 0.05

BASF SE Germany 21,571,786,040 2,637,347,227 2.54 2.54

Bengang Steel Plates Co Ltd China 6,622,513 809,663 0.06 0.06

BE Group AB Sweden 9,496,238 1,161,002 1.46 1.46

BHP Billiton Ltd Australia 3,697,929,965 452,105,603 0.61 0.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20173

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 4: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

BHP Billiton PLCUnited

Kingdom8,830,618,743 1,079,623,533 2.49 2.49

BillerudKorsnas AB Sweden 359,079,004 43,900,677 1.23 1.23

Bio On Spa Italy 106,974,163 13,078,565 1.99 1.99

Bluestar Adisseo Co China 33,640,068 4,112,805 0.1 0.1

BlueScope Steel Ltd Australia 1,656,774,640 202,555,782 3.02 3.02

Boliden AB Sweden 4,461,657,189 545,478,209 5.82 5.82

Boryszew SA Poland 26,043,608 3,184,068 0.5 0.5

BOC Kenya Ltd Kenya 1,961,071 239,759 1.18 1.18

BP Plastics Holding Bhd Malaysia 2,815,903 344,270 0.67 0.67

Braskem SA Brazil 553,199,832 67,633,716 0.66

Brenntag AG Germany 5,093,079,585 622,675,345 6.36 6.36

Cabot CorpUnited

States533,337,744 65,205,395 1.71 1.71

Calgon Carbon CorpUnited

States11,424,312 1,396,726 0.13 0.13

Cambrex CorpUnited

States17,196,658 2,102,448 0.13 0.13

Cameco Corp Canada 192,194,370 23,497,511 0.64 0.64

Canfor Corp Canada 209,884,483 25,660,289 1 1

Carpenter Technology CorpUnited

States78,029,118 9,539,770 0.4 0.4

Cascades Inc Canada 208,999,271 25,552,064 2.48 2.48

Castrol India Ltd India 24,111,461 2,947,846 0.1 0.1

CAP SA Chile 91,418,624 11,176,759 0.59 0.59

Celanese CorpUnited

States890,646,575 108,889,652 0.75 0.75

Centamin PLCUnited

Kingdom625,370,752 76,457,268 3.1 3.1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20174

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 5: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

CF Industries Holdings IncUnited

States603,967,348 73,840,507 0.74 0.74

Chambal Fertilizers and Chemicals Ltd India 74,790,179 9,143,780 0.92 0.92

Chemours Co/TheUnited

States674,695,495 82,487,667 0.89 0.89

China BlueChemical Ltd China 75,173,602 9,190,657 0.63 0.63

China General Plastics Corp Taiwan 122,332,997 14,956,323 2.79 2.79

China Hongqiao Group Ltd China 4,578 560 0

China Man-Made Fiber Corp Taiwan 61,606,558 7,531,963 1.54 1.54

China Petrochemical Development

CorpTaiwan 109,737,656 13,416,428 1.03 1.03

China Resources and Transportation

Group LtdChina 2,278,872 278,613 0.15 0.15

China Silver Group Ltd Hong Kong 31,588,720 3,862,009 0.78 0.78

China Steel Chemical Corp Taiwan 39,605,435 4,842,125 0.48 0.48

China Steel Corp Taiwan 1,084,731,903 132,618,350 1.01 1.01

China Synthetic Rubber Corp Taiwan 130,545,692 15,960,399 1.72 1.72

Chinyang Holdings Corp South Korea 14,705,763 1,797,913 1.15 1.15

Chongqing Iron & Steel Co Ltd China 6,595,293 806,335 0.04 0.04

Chugoku Marine Paints Ltd Japan 105,299,758 12,873,854 2.23 2.23

Chun Yuan Steel Taiwan 40,230,422 4,918,535 1.97 1.97

Cia Ferro Ligas da Bahia - FERBASA Brazil 33,048,689 4,040,503 0.74

Cia Minera Milpo SAA Peru 52,207,653 6,382,861 0.34 0.34

Ciech SA Poland 97,541,144 11,925,293 1.37 1.37

Clariant AG Switzerland 59,971,890 7,332,110 0.08 0.08

Clearwater Paper CorpUnited

States111,702,420 13,656,638 1.83 1.83

Cleveland-Cliffs IncUnited

States67,888,256 8,299,957 0.39 0.39

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20175

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 6: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Coeur Mining IncUnited

States98,585,174 12,052,935 0.87 0.87

Commercial Metals CoUnited

States173,155,034 21,169,779 0.85 0.85

Compass Minerals International IncUnited

States138,722,672 16,960,110 0.69 0.69

Constellium NVUnited

States183,166,677 22,393,794 1.49 1.49

Coromandel International Ltd India 221,718,035 27,107,048 1.02 1.02

Corp Aceros Arequipa SA Peru 31,525,218 3,854,245 1.08 1.38

Covestro AG Germany 2,894,193,822 353,841,543 1.69 1.69

Cristal Pigmentos do Brasil SA Brazil 20,669,632 2,527,051 2.31

Croda International PLC

United

Kingdom 690,150,928 84,377,234 1.07 1.07

CuDeco Ltd Australia 1,465,951 179,226 0.19 0.19

Cydsa SAB de CV Mexico 253,581,694 31,002,671 3.37 3.37

C Uyemura & Co Ltd Japan 59,952,782 7,329,773 0.97 0.97

Daicel Corp Japan 451,017,335 55,140,975 1.38 1.38

Daido Steel Co Ltd Japan 168,797,470 20,637,027 0.77 0.77

Daiichi Kigenso Kagaku-Kogyo Co Ltd Japan 85,076,957 10,401,432 3.35 3.35

Dainichiseika Color & Chemicals

Manufacturing Co LtdJapan 110,773,010 13,543,009 1.45 1.45

Dai Nippon Toryo Co Ltd Japan 93,119,222 11,384,673 2.4 2.4

Deltic Timber CorpUnited

States113,953,104 13,931,804 1.25 1.25

Denka Co Ltd Japan 564,846,727 69,057,655 1.95 1.95

Detour Gold Corp Canada 87,056,616 10,643,464 0.52 0.52

DIC Corp Japan 728,761,110 89,097,680 2.48 2.48

Domtar CorpUnited

States413,627,885 50,569,774 1.63 1.63

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20176

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 7: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Dongjin Semichem Co Ltd South Korea 18,138,175 2,217,557 0.21 0.21

Dongkuk Steel Mill Co Ltd South Korea 118,457,732 14,482,536 1.48 1.48

Dongyue Group Ltd China 90,954,669 11,120,036 0.75 0.75

Dowa Holdings Co Ltd Japan 147,743,875 18,063,034 0.71 0.71

DowDuPont IncUnited

States9,925,651,035 1,213,501,199 0.73 0.73

D&L Industries Inc Philippines 64,845,846 7,927,995 0.5 0.5

Earth Chemical Co Ltd Japan 46,273,119 5,657,310 0.56 0.56

Eastern Polymer Group PCL Thailand 65,593,146 8,019,359 0.83 0.83

Eastman Chemical CoUnited

States1,968,604,581 240,679,832 1.81 1.81

Eckert & Ziegler AG Germany 27,446,829 3,355,625 1.46 1.46

Ecolab IncUnited

States3,247,604,539 397,049,220 1.02 1.02

Egyptian Chemical Industries KIMA Egypt 31,148,837 3,808,229 1.35 1.35

Egyptian Financial & Industrial Co Egypt 13,796,711 1,686,774 2.45 2.45

Egyptian Iron & Steel Co Egypt 2,008,035 245,501 0.05 0.05

Eldorado Gold Corp Canada 81,886,497 10,011,370 0.87 0.87

Elementis PLCUnited

Kingdom240,296,264 29,378,406 1.62 1.62

Elton Chemicals Greece 278 34 0

EL Ezz Aldekhela Steel Alexandria Egypt 30,287,932 3,702,975 0.68 0.68

Empresas CMPC SA Chile 553,881,039 67,716,999 0.8 0.8

EMS-Chemie Holding AG Switzerland 1,161,527,033 142,007,254 0.91 0.91

Ence Energia y Celulosa SA Spain 468,848,583 57,321,008 3.39 3.39

Endeavour Mining Corp Canada 176,597,140 21,590,608 0.98 0.98

ENF Technology Co Ltd South Korea 75,308,315 9,207,127 2.69 2.69

Eramet France 130,243,569 15,923,462 0.3 0.5

Ercros SA Spain 45,156,527 5,520,797 1.45 1.45

Eregli Demir ve Celik Fabrikalari TAS Turkey 655,882,794 80,187,643 0.87 0.87

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20177

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 8: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Eternal Materials Co Ltd Taiwan 121,914,400 14,905,145 1.24 1.24

Everlight Chemical Industrial Corp Taiwan 14,317,542 1,750,450 0.5 0.5

Evonik Industries AG Germany 381,683,234 46,664,250 0.27 0.27

Evraz PLCUnited

Kingdom1,001,415,585 122,432,172 1.86 1.86

Ezz Steel Egypt 136,036,697 16,631,725 2.65 2.65

Feng Hsin Steel Co Ltd Taiwan 191,808,039 23,450,279 2.15 2.15

Ferrexpo PLCUnited

Kingdom479,295,978 58,598,297 2.51 2.51

Ferroglobe PLCUnited

States139,993,757 17,115,511 0.61 1.18

Ferro CorpUnited

States124,422,437 15,211,776 0.77 0.77

Fibria Celulose SA Brazil 568,251,802 69,473,956 0.87 0.87

Firestone Diamonds PLCUnited

Kingdom2,977,660 364,046 0.55 0.55

First Majestic Silver Corp Canada 22,121,692 2,704,578 0.24 0.24

First Quantum Minerals Ltd Canada 530,656,286 64,877,562 0.67 0.67

FMC Corp

United

States 652,118,961 79,727,480 0.63 0.63

Foosung Co Ltd South Korea 3,294,762 402,815 0.05 0.05

Formosan Rubber Group Inc Taiwan 35,226,691 4,306,784 2.08 2.08

Formosa Chemicals & Fibre Corp Taiwan 1,453,967,083 177,760,712 0.88 0.88

Formosa Plastics Corp Taiwan 322,160,649 39,387,072 0.19 0.19

Fortescue Metals Group Ltd Australia 654,211,687 79,983,334 0.67 0.67

Fossal SAA Peru 1,280,357 156,535 1.68 1.68

Fosun International Ltd China 284,674,502 34,804,049 0.18 0.18

Franco-Nevada Corp Canada 2,671,268,111 326,586,845 2.19 2.19

Fresnillo PLCUnited

Kingdom756,205,439 92,452,999 0.65 0.65

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20178

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 9: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Frutarom Industries Ltd Israel 36,674,640 4,483,809 0.08 0.08

Fufeng Group Ltd China 117,226,733 14,332,035 0.86 0.86

Fujikura Kasei Co Ltd Japan 34,257,063 4,188,238 1.94 1.94

Fujimi Inc Japan 62,186,522 7,602,869 1.26 1.26

Fujimori Kogyo Co Ltd Japan 170,796,782 20,881,461 3.05 3.05

FUCHS PETROLUB SE Germany 896,946,726 109,659,903 1.7 1.56

Galaxy Resources Ltd Australia 78,021,120 9,538,792 0.78 0.78

GCP Applied Technologies IncUnited

States18,088,367 2,211,468 0.1 0.1

Gem Diamonds LtdUnited

Kingdom5,387,576 658,680 0.49 0.49

Givaudan SA Switzerland 2,411,843,935 294,869,878 1.38 1.38

Glencore PLCUnited

Kingdom15,336,868,574 1,875,071,806 2.47 2.47

Gloria Material Technology Corp Taiwan 69,602,033 8,509,482 2.73 2.73

Godo Steel Ltd Japan 37,416,245 4,574,477 1.27 1.27

Goldcorp Inc Canada 335,842,246 41,059,772 0.37 0.37

Golden Star Resources Ltd Canada 3,055,257 373,533 0.11 0.11

Gold Fields Ltd South Africa 20,423,364 2,496,942 0.07 0.07

Gold Road Resources Ltd Australia 13,137,077 1,606,127 0.33 0.33

Grand Pacific Petrochemical Taiwan 217,801,065 26,628,163 2.78 2.78

Grupa Kety SA Poland 156,622,260 19,148,497 1.71 1.71

Grupo KUO SAB De CV Mexico 168,940,726 20,654,542 2.09 2.09

Grupo Mexico SAB de CV Mexico 1,564,604,781 191,287,178 0.74 0.74

Grupo Pochteca SAB de CV Mexico 9,612,156 1,175,174 2 2

Grupo Simec SAB de CV Mexico 43,116,628 5,271,400 0.34 0.34

Gujarat State Fertilizers & Chemicals

LtdIndia 119,946,305 14,664,528 1.51 1.51

Gun-Ei Chemical Industry Co Ltd Japan 39,367,178 4,812,996 1.55 1.55

Gurit Holding AG Switzerland 3,181,763 388,999 0.01 0.01

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 20179

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 10: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Guyana Goldfields Inc Canada 92,275,672 11,281,541 1.61 1.61

G-Resources Group Ltd Hong Kong 40,710,029 4,977,172 1.48 1.48

Hadera Paper Ltd Israel 24,330,775 2,974,659 0.66 0.66

Halcyon Agri Corp Ltd Singapore 5,503,443 672,846 0.1 0.1

Hansol Chemical Co Ltd South Korea 235,075,897 28,740,168 3.76 3.76

Hansol Holdings Co Ltd South Korea 25,839,585 3,159,124 1.6 1.6

Hansol Paper Co Ltd South Korea 55,036,185 6,728,675 2.16 2.16

Hanwha Chemical Corp South Korea 244,984,238 29,951,553 0.62 0.61

Harmony Gold Mining Co Ltd South Africa 79,615,941 9,733,774 1.19 1.19

Haynes International IncUnited

States8,285,193 1,012,940 0.25 0.25

HB Fuller CoUnited

States210,658,976 25,754,978 0.95 0.95

Hecla Mining CoUnited

States86,125,797 10,529,663 0.66 0.66

Hengyi Petrochemical Co Ltd China 255,767,200 31,269,869 0.57 0.57

Hexpol AB Sweden 424,847,518 51,941,477 1.07 1.49

Hiap Teck Venture Bhd Malaysia 29,831,284 3,647,146 2.74 2.74

Highfield Resources Ltd Australia 21,362,119 2,611,714 0.99 0.99

Highland Gold Mining Ltd Russia 111,736,698 13,660,829 1.81 1.81

Hikal Ltd India 39,099,157 4,780,228 1.58 1.58

Hitachi Chemical Co Ltd Japan 562,737,171 68,799,742 1.29 1.29

Hitachi Metals Ltd Japan 560,771,958 68,559,477 1.11 1.11

Hoa Sen Group Vietnam 56,387,980 6,893,944 1.83 1.83

Hochschild Mining PLC

United

Kingdom 197,763,784 24,178,423 1.33 1.33

Hodogaya Chemical Co Ltd Japan 19,906,352 2,433,733 0.55 0.55

Hokuetsu Kishu Paper Co Ltd Japan 53,263,432 6,511,939 0.52 0.52

Holmen AB Sweden 445,009,939 54,406,516 0.35 1.19

Ho Tung Chemical Corp Taiwan 51,810,007 6,334,245 1.81 1.81

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201710

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 11: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Hsin Kuang Steel Co Ltd Taiwan 29,170,713 3,566,385 1.24 1.24

HS Industries Co Ltd South Korea 44,252,856 5,410,315 1.02 1.02

Hubei Xinyangfeng Fertilizer Co Ltd China 41,173,850 5,033,878 0.26 0.26

Huchems Fine Chemical Corp South Korea 90,647,003 11,082,421 1.18 1.18

Hudbay Minerals Inc Canada 463,871,968 56,712,571 2.44 2.44

Huntsman CorpUnited

States703,241,021 85,977,617 1.08 1.08

Hyosung ONB Co Ltd South Korea 3,116,326 380,999 0.7 0.7

Hyundai Steel Co South Korea 465,800,616 56,948,366 0.78 0.78

H&R GmbH & Co KGaA Germany 144,054,795 17,612,010 2.75 2.75

IAMGOLD Corp Canada 308,839,502 37,758,441 1.39 1.39

Iberpapel Gestion SA Spain 150,255,027 18,370,045 4.79 4.79

Iljin Materials Co Ltd South Korea 3,175,855 388,277 0.02 0.02

Iluka Resources Ltd Australia 679,040,990 83,018,943 2.49 2.49

Imerys SA France 879,678,276 107,548,678 0.89 1.43

Impack Pratama Industri Tbk PT Indonesia 19,385,060 2,370,000 0.61 0.61

Impala Platinum Holdings Ltd South Africa 398,047,315 48,664,908 2.53 2.53

Imperial Metals Corp Canada 7,617,492 931,308 0.3 0.3

IMCD Group NV Netherlands 555,306,938 67,891,328 2.05 2.05

Inabata & Co Ltd Japan 123,045,622 15,043,447 1.56 1.56

Incitec Pivot Ltd Australia 398,756,381 48,751,598 0.95 0.95

Independence Group NL Australia 319,046,254 39,006,309 1.79 1.79

Indorama Ventures PCL Thailand 254,630,050 31,130,842 0.36 0.36

Industrias CH SAB de CV Mexico 20,965,266 2,563,195 0.14 0.14

Industrias Penoles SAB de CV Mexico 219,912,781 26,886,340 0.32 0.32

Ingevity CorpUnited

States242,329,005 29,626,927 1 1

Inner Mongolia Junzheng Energy &

Chemical Industry Group Co Ltd China 49,194,866 6,014,520 0.1 0.1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201711

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 12: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Innospec IncUnited

States160,842,254 19,664,430 1.15 1.15

Interfor Corp Canada 58,609,364 7,165,528 0.61 0.61

International Flavors & Fragrances IncUnited

States432,257,950 52,847,470 0.44 0.44

International Paper CoUnited

States1,701,508,768 208,024,937 0.87 0.87

Iron Force Industrial Co Ltd Taiwan 8,562,364 1,046,827 0.35 0.35

Ishihara Sangyo Kaisha Ltd Japan 171,779,865 21,001,652 2.75 2.75

Israel Chemicals Ltd Israel 206,176,392 25,206,941 0.49 0.49

Israel Corp Ltd/The Israel 232,020,104 28,366,570 2.17 2.17

Ivanhoe Mines Ltd Canada 95,627,238 11,691,300 0.44 0.44

Izostal SA Poland 18,815,084 2,300,315 4.68 4.68

Jacana Minerals Ltd Australia 24,056 2,941 0

Jacquet Metal Service France 255,395,684 31,224,447 2.8 3.94

Japan Pulp & Paper Co Ltd Japan 34,229,472 4,184,865 0.73 0.73

Japan Pure Chemical Co Ltd Japan 2,955,327 361,316 0.24 0.24

JCU Corp Japan 14,230,762 1,739,840 0.25 0.25

JFE Holdings Inc Japan 1,133,381,424 138,566,197 0.94 0.94

Jiangsu Yangnong Chemical Co Ltd China 49,881,527 6,098,471 0.26 0.26

Jiangxi Copper Co Ltd China 286,900,538 35,076,203 0.64 0.64

Jindal Saw Ltd India 24,903,071 3,044,627 0.43 0.43

Johnson Matthey PLCUnited

Kingdom172,743,054 21,119,411 0.26 0.26

JSP Corp Japan 118,637,820 14,504,554 1.35 1.35

JSR Corp Japan 425,542,641 52,026,462 1.17 1.17

JSW Steel Ltd India 169,339,091 20,703,246 0.2 0.2

Jubilant Life Sciences Ltd India 283,828,761 34,700,650 1.76 1.76

Kaiser Aluminum CorpUnited

States388,104,488 47,449,307 2.63 2.63

Kaneka Corp Japan 329,740,218 40,313,743 1.26 1.26

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201712

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 13: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Kangde Xin Composite Material Group

Co Ltd China 103,947,585 12,708,539 0.11 0.11

Kansai Paint Co Ltd Japan 288,473,882 35,268,558 0.5 0.5

Kanto Denka Kogyo Co Ltd Japan 98,079,030 11,991,054 1.71 1.71

KapStone Paper and Packaging CorpUnited

States291,720,264 35,665,458 1.62 1.62

Kardemir Karabuk Demir Celik Sanayi

ve Ticaret ASTurkey 131,569,405 16,085,558 1.67 1.67

Katanga Mining Ltd Canada 5,464,065 668,032 0.02 0.02

KAZ Minerals PLCUnited

Kingdom142,465,182 17,417,665 0.32 0.32

Kemira OYJ Finland 230,320,530 28,158,782 1.31 1.31

KGHM Polska Miedz SA Poland 413,571,739 50,562,910 0.79 0.79

KH Neochem Co Ltd Japan 96,924,351 11,849,884 1.26 1.26

Kimoto Co Ltd Japan 11,593,657 1,417,430 0.88 0.88

Kingboard Chemical Holdings Ltd China 398,758,273 48,751,829 0.85 0.85

Kingboard Laminates Holdings Ltd China 443,807,042 54,259,451 1.13 1.13

Kingenta Ecological Engineering Group

Co LtdChina 327,345,719 40,020,994 0.9 0.9

Kingsgate Consolidated Ltd Australia 14,346,389 1,753,977 2.51 2.51

Kinross Gold Corp Canada 478,909,291 58,551,021 1.09 1.09

Kirkland Lake Gold Ltd Canada 276,805,502 33,841,993 1.06 1.06

KISCO Corp South Korea 55,875,217 6,831,254 2.1 2.1

Kloeckner & Co SE Germany 226,298,377 27,667,037 2.24 2.24

Koatsu Gas Kogyo Co Ltd Japan 33,843,724 4,137,703 0.88 0.88

Kobe Steel Ltd Japan 166,805,890 20,393,539 0.6 0.6

Kolon Corp South Korea 1,913,056 233,889 0.03 0.03

Kolon Industries Inc South Korea 193,992,127 23,717,304 1.12 1.01

Koninklijke DSM NV Netherlands 1,265,954,155 154,774,420 0.83 0.83

Konishi Co Ltd Japan 79,726,246 9,747,259 1.28 1.28

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201713

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 14: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Konsorcjum Stali SA Poland 8,861,571 1,083,408 2.04 2.04

Koppers Holdings IncUnited

States181,410,745 22,179,115 2.1 2.1

Kordsa Teknik Tekstil AS Turkey 99,083,007 12,113,800 3.08 3.08

Korea Petrochemical Ind Co Ltd South Korea 108,281,412 13,238,388 0.83 0.83

Korea Zinc Co Ltd South Korea 616,315,922 75,350,232 0.87 0.87

KPX Holdings Corp South Korea 7,294,437 891,811 0.35 0.35

Kraton CorpUnited

States75,916,177 9,281,444 0.62 0.62

KuangChi Science Ltd Hong Kong 7,161,810 875,596 0.04 0.04

Kukdo Chemical Co Ltd South Korea 4,367,870 534,012 0.16 0.16

Kumba Iron Ore Ltd South Africa 10,182,323 1,244,882 0.01 0.01

Kumho Petrochemical Co Ltd South Korea 113,089,587 13,826,232 0.38 0.61

Kumiai Chemical Industry Co Ltd Japan 3,675,112 449,316 0.05 0.05

Kuraray Co Ltd Japan 931,378,036 113,869,444 1.7 1.7

Kureha Corp Japan 286,753,118 35,058,179 2.34 2.34

Kurimoto Ltd Japan 52,630,983 6,434,617 2.37 2.37

Kyoei Steel Ltd Japan 96,769,702 11,830,977 1.38 1.38

K AG Germany 97,277,962 11,893,116 0.25 0.25

Labrador Iron Ore Royalty Corp Canada 20,897,638 2,554,927 0.18 0.18

Landing International Development Ltd China 89,172,315 10,902,127 0.19 0.19

LANXESS AG Germany 3,020,359,791 369,266,481 5.07 5.07

LCY Chemical Corp Taiwan 192,899,915 23,583,771 1.69 1.69

Lee & Man Paper Manufacturing Ltd China 260,527,802 31,851,896 0.6 0.6

Lenzing AG Austria 671,551,365 82,103,268 2.43 2.43

LG Chem Ltd South Korea 2,283,609,936 279,192,104 0.94 1

Lianhe Chemical Technology Co Ltd China 22,820,044 2,789,958 0.18 0.18

Linde AG Germany 23,057,316,474 2,818,966,846 6.49 6.49

Lomon Billions Group Co Ltd China 10,830,963 1,324,184 0.03 0.03

Lotte Chemical Corp South Korea 690,764,069 84,452,196 0.72 0.72

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201714

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 15: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Lotte Chemical Titan Holding Bhd Malaysia 257,084,227 31,430,887 1.19 1.19

LOTTE Fine Chemical Co Ltd South Korea 78,531,418 9,601,181 0.61 0.61

Lundin Mining Corp Canada 363,548,086 44,447,063 0.92 0.92

Lung Kee Bermuda Holdings China 49,865,878 6,096,558 2.06 2.06

LyondellBasell Industries NVUnited

States2,719,630,815 332,499,626 0.76 0.76

Maanshan Iron & Steel Co Ltd China 114,189,932 13,960,759 0.38 0.38

Magnitogorsk Iron & Steel Works PJSC Russia 521,022,995 63,699,804 0.78 0.78

Maruichi Steel Tube Ltd Japan 33,168,712 4,055,177 0.15 0.15

Matsuda Sangyo Co Ltd Japan 42,721,942 5,223,146 1.1 1.1

MACA Ltd Australia 67,548,887 8,258,466 2.34 2.34

Medusa Mining Ltd Australia 8,541,765 1,044,309 1.48 1.48

Merafe Resources Ltd South Africa 22,594,690 2,762,407 0.91 0.91

Mercer International IncUnited

States38,917,549 4,758,025 0.51 0.51

Metals X Ltd Australia 5,332,862 651,991 0.13 0.13

Methanex Corp Canada 345,009,283 42,180,526 0.83 0.83

Metsa Board OYJ Finland 125,656,637 15,362,668 0.17 0.5

Mexichem SAB de CV Mexico 902,875,519 110,384,752 2.11 2.11

MEC Co Ltd Japan 45,308,849 5,539,419 1.32 1.32

Midas Holdings Ltd China 5,502,223 672,697 0.44 0.44

Middle East Paper CoSaudi

Arabia28,418,508 3,474,421 1.34

Mincor Resources NL Australia 3,729,615 455,979 0.8 0.8

Minerals Technologies IncUnited

States263,999,956 32,276,398 1.33 1.33

Mineral Deposits Ltd Australia 1,756,419 214,738 0.13 0.13

Mineral Resources Ltd Australia 640,318,588 78,284,777 2.52 2.52

Minera Frisco SAB de CV Mexico 5,970,036 729,891 0.05 0.05

Minsur SA Peru 780,471 95,420 0.02 0.02

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201715

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 16: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Miquel y Costas & Miquel SA Spain 167,465,457 20,474,177 2.29 2.29

Misr Chemical Industries Egypt 13,721,753 1,677,609 2.9 2.9

Mitsubishi Chemical Holdings Corp Japan 2,088,670,265 255,358,955 1.54 1.54

Mitsubishi Gas Chemical Co Inc Japan 1,114,122,019 136,211,559 2.05 2.05

Mitsubishi Paper Mills Ltd Japan 11,782,577 1,440,527 0.65 0.65

Mitsubishi Steel Manufacturing Co Ltd Japan 70,221,152 8,585,175 2.2 2.2

Mitsui Chemicals Inc Japan 904,078,261 110,531,798 1.68 1.68

Mitsui Mining & Smelting Co Ltd Japan 315,636,504 38,589,436 1.15 1.15

MMG Ltd Hong Kong 64,593,495 7,897,143 0.2 0.2

Mondi Ltd South Africa 30,102,570 3,680,313 0.12 0.12

Mondi PLCUnited

Kingdom2,923,624,244 357,439,680 3.74 3.74

Mongolia Energy Corp Ltd Hong Kong 111,079 13,580 0.03 0.03

Monsanto India Ltd India 143,205,420 17,508,166 2.55 2.55

Mory Industries Inc Japan 17,888,561 2,187,039 0.86 0.86

Mosaic Co/TheUnited

States1,594,431,447 194,933,760 2.16 2.16

Mount Gibson Iron Ltd Australia 119,008,520 14,549,875 3.77 3.77

Munsun Capital Group Ltd China 1,204,977 147,319 0.13 0.13

Mytilineos Holdings SA Greece 349,306,273 42,705,872 2.72 2.72

Nagase & Co Ltd Japan 246,214,132 30,101,919 1.31 1.31

Nakayama Steel Works Ltd Japan 32,313,551 3,950,626 0.97 0.97

Namhae Chemical Corp South Korea 9,784,268 1,196,216 0.24 0.24

Nam Kim Steel JSC Vietnam 47,514,946 5,809,135 2.62 2.62

Nanjing Redsun Co Ltd China 41,360,911 5,056,748 0.28 0.28

Nanosonics Ltd Australia 94,381,811 11,539,036 1.78 1.78

Nan Ya Plastics Corp Taiwan 1,577,676,510 192,885,316 0.93 0.93

National Aluminium Co Ltd India 375,262,742 45,879,286 1.76 1.76

National Petrochemical CoSaudi

Arabia25,794,072 3,153,560 0.13

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201716

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 17: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Navigator Co SA/The Portugal 499,597,579 61,080,352 1.67 1.67

Neenah Paper IncUnited

States187,015,005 22,864,287 1.5 1.5

Neodecortech Spa Italy 2,008,820 245,597 0.41 0.41

Neturen Co Ltd Japan 48,892,602 5,977,566 1.24 1.24

Newcrest Mining Ltd Australia 374,751,821 45,816,822 0.33 0.33

Newmont Mining CorpUnited

States515,607,020 63,037,652 0.32 0.32

NewMarket CorpUnited

States270,812,902 33,109,343 0.7 0.7

New Gold Inc Canada 79,138,299 9,675,377 0.51 0.51

Nexa Resources SA Brazil 221,744,917 27,110,335 1.04 1.04

Nickel Asia Corp Philippines 44,219,660 5,406,256 0.56 0.56

Nihon Nohyaku Co Ltd Japan 11,477,882 1,403,276 0.34 0.34

Nihon Parkerizing Co Ltd Japan 157,904,943 19,305,317 0.86 0.86

Nippon Denko Co Ltd Japan 73,703,654 9,010,943 1.47 1.47

Nippon Kayaku Co Ltd Japan 279,417,567 34,161,341 1.26 1.26

Nippon Light Metal Holdings Co Ltd Japan 242,902,052 29,696,987 1.68 1.68

Nippon Paint Holdings Co Ltd Japan 162,455,420 19,861,654 0.19 0.19

Nippon Paper Industries Co Ltd Japan 135,556,170 16,572,976 0.75 0.75

Nippon Shokubai Co Ltd Japan 270,550,439 33,077,254 1.2 1.2

Nippon Soda Co Ltd Japan 117,065,845 14,312,365 1.38 1.38

Nippon Steel & Sumikin Bussan Corp Japan 109,556,306 13,394,256 0.71 0.71

Nippon Steel & Sumitomo Metal Corp Japan 1,818,987,454 222,387,776 0.91 0.91

Nippon Valqua Industries Ltd Japan 94,482,054 11,551,291 2.26 2.26

Nippon Yakin Kogyo Co Ltd Japan 12,989,417 1,588,075 0.48 0.48

Nissan Chemical Industries Ltd Japan 387,538,028 47,380,052 0.79 0.79

Nisshin Steel Co Ltd Japan 5,946,710 727,039 0.04 0.04

Nittetsu Mining Co Ltd Japan 134,420,153 16,434,087 2.69 2.69

Nitto Denko Corp Japan 1,526,435,979 186,620,695 1.21 1.21

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201717

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 18: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Northam Platinum Ltd South Africa 325,538,401 39,800,033 1.85 1.85

Northern Star Resources Ltd Australia 486,834,430 59,519,941 2.07 2.07

North Mining Shares Co Ltd China 5,379,518 657,695 0.14 0.14

Novagold Resources Inc Canada 71,784,030 8,776,251 0.69 0.69

Novolipetsk Steel PJSC Russia 1,325,242,775 162,022,994 1.06 1.06

NOF Corp Japan 432,450,718 52,871,037 2.27 2.27

Nucor CorpUnited

States2,141,833,799 261,858,681 1.3 1.3

Nufarm Ltd/Australia Australia 793,836,700 97,053,763 4.33 4.33

Nyrstar NV Belgium 63,213,166 7,728,385 0.88 0.88

OceanaGold Corp Canada 176,113,130 21,531,433 1.36 1.36

OCI Co Ltd South Korea 222,848,378 27,245,243 0.9 0.9

OCI NV Netherlands 516,592,996 63,158,197 1.16 1.16

Oji Holdings Corp Japan 751,199,053 91,840,923 1.36 1.36

Okamoto Industries Inc Japan 76,086,759 9,302,299 0.9 0.9

Okura Industrial Co Ltd Japan 67,080,616 8,201,216 2.15 2.15

Olin CorpUnited

States604,305,382 73,881,834 1.25 1.25

Omnia Holdings Ltd South Africa 199,625,275 24,406,007 2.96 2.96

Orica Ltd Australia 870,133,612 106,381,755 1.99 1.99

Oriental Union Chemical Corp Taiwan 67,137,817 8,208,209 0.87 0.87

Orocobre Ltd Australia 43,366,865 5,301,994 0.46 0.46

Osaka Soda Co Ltd Japan 67,027,582 8,194,732 1.38 1.38

Osaka Steel Co Ltd Japan 25,315,701 3,095,075 0.35 0.35

Osisko Gold Royalties Ltd Canada 73,212,260 8,950,865 0.49 0.49

OSAKA Titanium Technologies Co Ltd Japan 1,973,681 241,300 0.04 0.04

Outokumpu OYJ Finland 840,191,462 102,721,055 2.65 2.65

OZ Minerals Ltd Australia 698,402,175 85,386,024 3.99 3.99

Pacific Metals Co Ltd Japan 15,180,825 1,855,994 0.34 0.34

Palram Industries 1990 Ltd Israel 569,660 69,646 0.04 0.04

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201718

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 19: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Panoramic Resources Ltd Australia 10,961,255 1,340,113 0.96 0.96

Pan African Resources PLCUnited

Kingdom518,802 63,428 0.01 0.01

Pan American Silver Corp Canada 149,964,444 18,334,519 0.77 0.77

Papeles y Cartones de Europa SA Spain 372,026,013 45,483,567 3.37 3.37

Paranapanema SA Brazil 2,712,866 331,673 0.1 0.1

PCAS France 10,291,670 1,258,250 0.38 0.38

PCC Rokita SA Poland 65,462,105 8,003,338 0.91 1.36

Petkim Petrokimya Holding AS Turkey 205,330,463 25,103,518 0.82 0.82

Petrokemija DD Tvornica Gnojiva Croatia 191,582 23,423 0.08 0.08

Petronas Chemicals Group Bhd Malaysia 712,474,258 87,106,464 0.57 0.57

Petropavlovsk PLCUnited

Kingdom978,567 119,639 0.03 0.03

Philex Mining Corp Philippines 79,259,016 9,690,136 1.62 1.62

PhosAgro PJSC Russia 658,272,482 80,479,804 1.39 1.39

PH Glatfelter CoUnited

States48,139,519 5,885,494 0.63 0.63

Pidilite Industries Ltd India 628,335,139 76,819,691 1.06 1.06

PI Industries Ltd India 151,703,382 18,547,119 0.89 0.89

Plastika Kritis SA Greece 1,902,790 232,633 0.08 0.08

Polymetal International PLCUnited

Kingdom563,268,130 68,864,657 1.29 1.29

PolyOne CorpUnited

States356,266,402 43,556,811 1.24 1.24

PPG Industries IncUnited

States900,492,350 110,093,388 0.37 0.37

PQ Group Holdings IncUnited

States286,455,048 35,021,737 1.57 1.57

Praxair IncUnited

States1,903,525,569 232,723,330 0.53 0.53

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201719

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 20: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Press Metal Aluminium Holdings Bhd Malaysia 394,213,284 48,196,163 0.94 0.94

PTT Global Chemical PCL Thailand 491,949,119 60,145,258 0.51 0.51

Pungkuk Alcohol Industry Co Ltd South Korea 5,371,870 656,760 0.4 0.4

Qinghai Salt Lake Industry Co Ltd China 38,437,418 4,699,324 0.08 0.08

Quaker Chemical CorpUnited

States175,226,517 21,423,037 1.07 1.07

Quintis Ltd Australia 566,019 69,201 1.54 1.54

Ram-On Investments & Holdings 1999

LtdIsrael 10,688,324 1,306,745 1.72 1.72

Randgold Resources LtdUnited

Kingdom273,657,305 33,457,097 0.35 0.35

Rayonier Advanced Materials IncUnited

States173,430,853 21,203,501 2.01 2.01

Recticel SA Belgium 40,649,674 4,969,793 0.98 0.98

Regis Resources Ltd Australia 402,312,440 49,186,358 2.9 2.9

Reliance Steel & Aluminum CoUnited

States538,633,369 65,852,833 1.05 1.05

Riken Technos Corp Japan 74,981,715 9,167,197 2.51 2.51

Robertet SA France 36,566,425 4,470,578 0.4 0.4

Rongsheng Petro Chemical Co Ltd China 262,349,137 32,074,570 0.38 0.38

Royal Gold IncUnited

States1,735,884,845 212,227,725 3.95 3.95

RPM International IncUnited

States438,858,003 53,654,386 0.77 0.77

Russel Metals Inc Canada 204,499,095 25,001,876 1.74 1.74

S2 Resources Ltd Australia 2,292,559 280,286 0.63 0.63

Sahara Petrochemical CoSaudi

Arabia128,035,807 15,653,543 0.81

Sakai Chemical Industry Co Ltd Japan 83,588,671 10,219,476 1.82 1.82

Sakata INX Corp Japan 179,047,470 21,890,183 2.19 2.19

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201720

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 21: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Salzgitter AG Germany 387,656,220 47,394,502 1.38 1.38

Sam Yung Trading Co Ltd South Korea 24,053,908 2,940,809 1.08 1.08

Sandfire Resources NL Australia 227,620,594 27,828,690 3.26 3.26

Sanyo Chemical Industries Ltd Japan 228,246,335 27,905,192 2.26 2.26

Sanyo Special Steel Co Ltd Japan 131,998,006 16,137,958 1.88 1.88

Sappi Ltd South Africa 879,141,082 107,483,001 2.67 2.67

Saudi Basic Industries CorpSaudi

Arabia230,801,088 28,217,534 0.03

Saudi Industrial Investment GroupSaudi

Arabia167,393,345 20,465,360 0.9

Saudi Kayan Petrochemical CoSaudi

Arabia91,911,626 11,237,033 0.26

Schmolz Bickenbach AG Switzerland 151,050,443 18,467,292 2.27 2.27

Scotts Miracle-Gro Co/TheUnited

States403,229,941 49,298,531 0.8 0.8

Seah Besteel Corp South Korea 44,325,507 5,419,197 0.56 0.56

SeAH Steel Corp South Korea 73,843,219 9,028,006 1.67 1.67

Sekisui Plastics Co Ltd Japan 69,740,338 8,526,391 1.38 1.38

Semapa-Sociedade de Investimento e

GestaoPortugal 332,096,736 40,601,849 2.34 2.34

Sensient Technologies CorpUnited

States314,340,287 38,430,962 1.21 1.21

SEMAFO Inc Canada 113,850,071 13,919,208 1.5 1.5

Shandong Chenming Paper Holdings

LtdChina 52,210,595 6,383,221 0.19 0.19

Shandong Sinocera Functional Material

Co LtdChina 273,932,460 33,490,737 1.82 1.82

Shanghai Chlor-Alkali Chemical Co Ltd China 8,106,292 991,068 0.11 0.11

Shanta Gold Ltd Tanzania 2,166,889 264,922 0.58 0.58

Sheng Yu Steel Co Ltd Taiwan 42,608,425 5,209,268 1.68 1.68

Shihlin Paper Corp Taiwan 16,548,242 2,023,173 0.71 0.71

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201721

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 22: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Shikoku Chemicals Corp Japan 105,249,085 12,867,659 1.35 1.35

Shin-Etsu Chemical Co Ltd Japan 5,024,634,187 614,307,272 1.4 1.4

Shin-Etsu Polymer Co Ltd Japan 60,765,388 7,429,122 0.8 0.8

Shougang Concord International

Enterprises Co LtdChina 20,845,980 2,548,611 0.49 0.49

Showa Denko KK Japan 617,932,571 75,547,882 1.18 1.18

Sibanye Gold Ltd South Africa 560,746,482 68,556,362 2.47 2.47

Sims Metal Management Ltd Australia 268,323,870 32,805,036 1.32 1.32

Sinofert Holdings Ltd China 233,041,737 28,491,474 2.44 2.44

Sinopec Shanghai Petrochemical Co

LtdChina 248,561,084 30,388,855 0.49 0.49

Sirius Minerals PLCUnited

Kingdom66,493,478 8,129,433 0.58 0.58

SKC Co Ltd South Korea 79,424,027 9,710,310 0.59 0.59

SKP Resources Bhd Malaysia 15,544,912 1,900,507 0.27 0.27

SKW Stahl-Metallurgie Holding AG Germany 2 0

SK Chemicals Co Ltd South Korea 35,216,393 4,305,525 0.22 0.22

SK Materials Co Ltd South Korea 274,069,945 33,507,546 1.89 1.89

Sociedad Minera Cerro Verde SAA Peru 48,015,676 5,870,353 0.06 0.06

Sociedad Quimica y Minera de Chile

SAChile 606,584,283 74,160,451 0.47 0.47

Soda Sanayii AS Turkey 76,471,934 9,349,390 0.78 0.78

Soken Chemical & Engineering Co Ltd Japan 22,386,659 2,736,973 1.58 1.58

Solvay SA Belgium 26,946,841 3,294,497 0.02 0.02

Songwon Industrial Co Ltd South Korea 78,649,504 9,615,618 1.59 1.59

Soulbrain Co Ltd South Korea 176,228,490 21,545,537 1.96 1.96

South32 Ltd Australia 2,569,316,330 314,122,312 2.22 2.22

Southern Copper CorpUnited

States338,536,847 41,389,211 0.11 0.11

Sri Trang Agro-Industry PCL Thailand 76,617,909 9,367,237 1.41 1.41

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201722

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 23: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

SRF Ltd India 140,980,779 17,236,184 0.97 0.97

SSAB AB Sweden 618,777,889 75,651,230 1.09 1.58

SSR Mining Inc Canada 222,802,236 27,239,602 2.59 2.59

Stalprodukt SA Poland 77,492,075 9,474,112 0.52 1.17

Stalprofil SA Poland 18,190,753 2,223,985 1.56 2.98

Stanley Agricultural Group Co Ltd China 15,199,321 1,858,255 0.16 0.16

Steel Dynamics IncUnited

States1,944,884,456 237,779,830 2.33 2.33

Stelco Holdings Inc Canada 14,942,761 1,826,889 0.11 0.11

Stella Chemifa Corp Japan 84,347,902 10,312,299 2.37 2.37

Stepan CoUnited

States356,744,714 43,615,289 2.45 2.45

Stora Enso OYJ Finland 1,867,738,061 228,347,981 0.61 1.82

St Barbara Ltd Australia 418,416,815 51,155,265 3.32 3.32

STE Industrielle de Papier et Carton Tunisia 7,865,226 961,595 2.47 2.47

ST Corp Japan 40,478,262 4,948,836 0.9 0.9

Sudarshan Chemical Industries India 81,022,188 9,905,700 2.44 2.44

Suheung Co Ltd South Korea 1,537,008 187,913 0.05 0.05

Sumitomo Bakelite Co Ltd Japan 263,179,063 32,176,036 1.54 1.54

Sumitomo Chemical Co Ltd Japan 868,348,432 106,163,501 0.89 0.89

Sumitomo Metal Mining Co Ltd Japan 785,914,475 96,085,199 0.72 0.72

Sumitomo Seika Chemicals Co Ltd Japan 128,404,537 15,698,624 2.02 2.02

Suzano Papel e Celulose SA Brazil 454,745,202 55,596,741 0.89 0.89

Swancor Holding Co Ltd Taiwan 9,307,338 1,137,907 0.45 0.45

Symrise AG Germany 1,646,548,596 201,305,556 1.8 1.8

Syngenta AG Switzerland 7,048,896 861,792 0

Synthomer PLCUnited

Kingdom449,620,133 54,970,154 2.43 2.43

Syrah Resources Ltd Australia 7,203,030 880,636 0.08 0.08

Taekwang Industrial Co Ltd South Korea 123,072,170 15,046,693 1.1 1.1

Taiwan Fertilizer Co Ltd Taiwan 166,681,496 20,378,330 1.61 1.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201723

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Taiwan Styrene Monomer Taiwan 91,743,575 11,216,487 2.79 2.79

Taiyo Holdings Co Ltd Japan 85,182,428 10,414,327 0.81 0.81

Taiyo Nippon Sanso Corp Japan 59,564,791 7,282,338 0.12 0.12

Takasago International Corp Japan 76,404,094 9,341,096 1.43 1.43

Tamil Nadu Newsprint & Papers Ltd India 100,597,450 12,298,954 2.54 2.54

Tata Chemicals Ltd India 272,397,457 33,303,069 1.14 1.14

Tata Steel Ltd India 885,948,750 108,315,300 0.97 0.97

Tawana Resources NL Australia 5,595,037 684,044 0.38 0.38

TA Chen Stainless Pipe Taiwan 36,749,552 4,492,967 0.66 0.66

Teck Resources Ltd Canada 946,286,955 115,692,195 0.33 0.76

Teijin Ltd Japan 529,496,632 64,735,784 1.48 1.48

Tenaris SA Italy 1,355,472,759 165,718,885 0.89 0.89

Tessenderlo Group SA Belgium 369,972,283 45,232,480 2.24 2.24

Tianhe Chemicals Group Ltd China 6,699,757 819,106 0.09 0.09

Tianqi Lithium Corp China 61,710,869 7,544,716 0.08 0.08

TMK PJSC Russia 352,001,028 43,035,330 3.25 3.25

Toagosei Co Ltd Japan 202,447,439 24,751,042 1.47 1.47

Tocalo Co Ltd Japan 287,538,380 35,154,185 4.98 4.98

Toda Kogyo Corp Japan 3,258,961 398,438 0.16 0.16

Toho Titanium Co Ltd Japan 5,984,568 731,668 0.1 0.1

Toho Zinc Co Ltd Japan 92,072,250 11,256,671 1.53 1.53

Tokai Carbon Co Ltd Japan 257,081,320 31,430,532 1.13 1.13

Tokushu Tokai Paper Co Ltd Japan 9,743,337 1,191,212 0.2 0.2

Tokuyama Corp Japan 193,132,897 23,612,255 1.04 1.04

Tokyo Rope Manufacturing Co Ltd Japan 14,885,197 1,819,851 0.68 0.68

Tokyo Steel Manufacturing Co Ltd Japan 179,885,953 21,992,695 1.58 1.58

Tokyo Tekko Co Ltd Japan 27,100,184 3,313,244 1.96 1.96

Ton Yi Industrial Corp Taiwan 55,601,924 6,797,841 0.92 0.92

Toray Industries Inc Japan 1,418,325,944 173,403,259 1.13 1.13

Torex Gold Resources Inc Canada 63,517,149 7,765,550 1.02 1.02

Tosoh Corp Japan 1,404,529,648 171,716,536 2.33 2.33

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201724

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Toyo Ink SC Holdings Co Ltd Japan 186,551,909 22,807,669 1.27 1.27

Toyo Kohan Co Ltd Japan 48,918,741 5,980,761 1.37 1.37

Toyo Tanso Co Ltd Japan 37,837,389 4,625,965 0.71 0.71

Tredegar CorpUnited

States51,409,139 6,285,235 0.99 0.99

Trinseo SAUnited

States431,690,508 52,778,095 1.66 1.66

Tri Chemical Laboratories Inc Japan 49,106,885 6,003,764 2.14 2.14

Troax Group AB Sweden 9,354,128 1,143,627 0.17 0.17

Tronox LtdUnited

States78,558,607 9,604,505 0.39 0.39

TSRC Corp Taiwan 166,884,882 20,403,196 1.97 1.97

Tubacex SA Spain 142,216,435 17,387,254 3.25 3.25

Tung Ho Steel Enterprise Corp Taiwan 179,403,260 21,933,682 2.53 2.53

Tupy SA Brazil 105,528,066 12,901,767 1.63 1.63

Turquoise Hill Resources Ltd Canada 166,899,434 20,404,975 0.3 0.3

T Hasegawa Co Ltd Japan 37,726,298 4,612,383 0.52 0.52

UACJ Corp Japan 15,614,661 1,909,034 0.15 0.15

Ube Industries Ltd Japan 411,185,509 50,271,172 1.61 1.61

Ufaorgsintez OAO Russia 1,533,628 187,500 0.99

Umicore SA Belgium 1,562,343,785 191,010,751 1.8 1.8

United States Steel CorpUnited

States560,489,049 68,524,889 1.11 1.11

Univar IncUnited

States1,101,820,185 134,707,548 3.09 3.09

Univentures PCL Thailand 16,986,023 2,076,696 0.39 0.39

UPC Technology Corp Taiwan 73,840,269 9,027,645 1.19 1.19

UPL Ltd India 1,119,003,237 136,808,333 2.25 2.25

UPM-Kymmene OYJ Finland 4,638,946,588 567,153,452 3.42 3.42

Usinas Siderurgicas de Minas Gerais

SABrazil 99,444,551 12,158,002 0.35

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201725

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 26: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

USI Corp Taiwan 94,698,484 11,577,752 1.8 1.8

US Silica Holdings Inc United

States

72,463,442 8,859,316 0.33 0.33

voestalpine AG Austria 2,955,291,861 361,311,334 3.42 3.42

Vale Indonesia Tbk PT Indonesia 153,143,800 18,723,224 0.88 0.88

Vale SA Brazil 4,441,214,464 542,978,900 0.85 0.85

Valmieras Stikla Skiedra JSC Latvia 6,251,988 764,362 0.72 0.72

Valvoline IncUnited

States409,125,844 50,019,359 0.99 0.99

Venator Materials PLCUnited

States259,328,958 31,705,326 1.35 1.35

Veritiv CorpUnited

States102,566,441 12,539,681 2.76 2.76

Versum Materials IncUnited

States426,743,148 52,173,235 1.27 1.27

Victrex PLCUnited

Kingdom554,931,514 67,845,430 2.21 2.21

Viet Nam Fumigation JSC Vietnam 7,133,920 872,187 2.49 2.49

Wacker Chemie AG Germany 1,094,435,331 133,804,683 1.32 1.32

Wanhua Chemical Group Co Ltd China 110,788,434 13,544,895 0.09 0.09

Welspun Corp Ltd India 9,791,735 1,197,129 0.21 0.21

Western Areas Ltd Australia 11,163,823 1,364,879 0.2 0.2

Western Forest Products Inc Canada 32,222,990 3,939,554 0.51 0.51

Westgold Resources Ltd Australia 4,788,531 585,442 0.13 0.13

Westlake Chemical CorpUnited

States532,871,741 65,148,421 0.47 0.47

West Fraser Timber Co Ltd Canada 530,085,948 64,807,833 1.34 1.34

Wheaton Precious Metals Corp Canada 600,073,850 73,364,491 0.75 0.75

Wiscom Co Ltd South Korea 2,211,571 270,385 0.48 0.48

Wonik Materials Co Ltd South Korea 17,912,853 2,190,009 0.54 0.54

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201726

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Worthington Industries IncUnited

States336,865,063 41,184,821 1.52 1.52

WR Grace & CoUnited

States362,735,830 44,347,757 0.93 0.93

Yamana Gold Inc Canada 293,891,299 35,930,887 1.21 1.21

Yamato Kogyo Co Ltd Japan 286,873,358 35,072,880 1.78 1.78

Yanbu National Petrochemical CoSaudi

Arabia183,706,999 22,459,853 0.26

YC INOX Co Ltd Taiwan 75,493,767 9,229,800 2.52 2.52

Yeong Guan Energy Technology Group

Co LtdTaiwan 5,190,631 634,602 0.25 0.25

Yieh Phui Enterprise Co Ltd Taiwan 28,777,359 3,518,294 0.47 0.47

Yip's Chemical Holdings Ltd Hong Kong 11,842,411 1,447,843 0.72 0.72

Yodogawa Steel Works Ltd Japan 135,063,937 16,512,796 1.49 1.49

Young Poong Corp South Korea 39,879,772 4,875,665 0.26 0.26

Yushiro Chemical Industry Co Ltd Japan 12,962,603 1,584,796 0.76 0.76

Zeon Corp Japan 838,415,234 102,503,895 2.99 2.99

Zhejiang Juhua Co Ltd China 13,351,734 1,632,371 0.05 0.05

Zhejiang Longsheng Group Co Ltd China 30,886,743 3,776,185 0.06 0.06

Zhejiang Runtu Co Ltd China 28,107,847 3,436,440 0.15 0.15

Zibo Qixiang Tengda Chemical Co Ltd China 15,130,290 1,849,816 0.05 0.05

Zotefoams PLCUnited

Kingdom4,529,892 553,821 0.2 0.2

CONSUMER GOODS

361 Degrees International Ltd China 66,289,743 8,104,525 1.13 1.13

7 UP Bottling Co PLC Nigeria 8,125,281 993,390 0.55 0.55

adidas AG Germany 8,576,603,143 1,048,567,813 2.48 2.48

AAK AB Sweden 362,795,881 44,355,099 1.22 1.22

Ability Enterprise Co Ltd Taiwan 21,945,477 2,683,034 1.42 1.42

Able C&C Co Ltd South Korea 28,611,969 3,498,074 1.34 1.34

ABC-Mart Inc Japan 428,013,938 52,328,600 1.1 1.1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201727

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Accell Group Netherlands 219,350,897 26,817,644 3.63 3.63

Activision Blizzard IncUnited

States2,899,316,441 354,467,829 0.74 0.74

ACCO Brands CorpUnited

States276,739,760 33,833,955 2.6 2.6

Adecoagro SAUnited

States244,276,637 29,865,043 2.38 2.38

Adient PLCUnited

States332,036,485 40,594,483 0.55 0.55

Adris Grupa DD Croatia 105,951,401 12,953,523 1.14 1.14

Advanced International Multitech Co Ltd Taiwan 30,157,823 3,687,068 2.28 2.28

Adveo Group International SA Spain 6,409,935 783,673 1.24 1.24

AD Plastik DD Croatia 3,804,578 465,144 0.41 0.41

Agabang&Company South Korea 3,501,592 428,101 0.24 0.24

Agrana Beteiligungs AG Austria 5,026,852 614,578 0.03 0.03

Agthia Group PJSCUnited Arab

Emirates51,251,697 6,265,986 0.8 0.8

Ahresty Corp Japan 1,314,868 160,755 0.08 0.08

Aisan Industry Co Ltd Japan 101,488,523 12,407,896 1.68 1.68

Aisin Seiki Co Ltd Japan 1,511,392,472 184,781,489 1.12 1.12

Ajinomoto Co Inc Japan 684,896,078 83,734,781 0.78 0.78

Akebono Brake Industry Co Ltd Japan 1,127,117 137,800 0.04 0.04

Alicorp SAA Peru 132,615,241 16,213,420 0.59 0.58

Almarai CoSaudi

Arabia53,412,830 6,530,205 0.05

Alpargatas SA Brazil 146,050,507 17,856,004 0.72

Alpine Electronics Inc Japan 140,225,742 17,143,873 1.19 1.19

Altek Corp Taiwan 33,359,329 4,078,482 1.41 1.41

Al Meera Consumer Goods Co QSC Qatar 26,286,437 3,213,756 0.41 0.41

Ambev SA Brazil 2,870,509,896 350,945,967 0.35 0.35

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201728

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 29: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

American Axle & Manufacturing

Holdings Inc

United

States687,270,983 84,025,134 4.43 4.43

Amer Sports Oyj Finland 526,806,603 64,406,903 1.96 1.96

Amica SA Poland 32,668,346 3,994,003 1.05 1.42

Amicogen Inc South Korea 6,058,661 740,727 0.17 0.17

Amorepacific Corp South Korea 828,964,394 101,348,444 0.69 0.59

Amsterdam Commodities NV Netherlands 21,806,191 2,666,005 0.37 0.37

AmTRAN Technology Co Ltd Taiwan 66,523,771 8,133,137 1.77 1.77

AMOREPACIFIC Group South Korea 635,246,780 77,664,702 0.72 0.66

Anadolu Efes Biracilik Ve Malt Sanayii

AS

Turkey 55,128,213 6,739,926 0.18 0.18

Andersons Inc/TheUnited

States10,349,947 1,265,375 0.14 0.14

Anheuser-Busch InBev SA/NV Belgium 20,564,861,208 2,514,241,499 0.57 1.15

Anhui Gujing Distillery Co Ltd China 679,785,527 83,109,969 2.92 2.92

Anhui Jianghuai Automobile Group Corp

LtdChina 30,788,956 3,764,230 0.14 0.14

Anxian Yuan China Holdings Ltd China 4,898,926 598,938 0.67 0.67

ANTA Sports Products Ltd China 1,187,235,268 145,150,320 1.19 1.19

Apollo Tyres Ltd India 250,353,013 30,607,935 1.27 1.27

Aptiv PLCUnited

States4,354,539,138 532,382,052 2.36 2.36

AP Thailand PCL Thailand 192,931,504 23,587,633 2.67 2.67

Arabian Food Industries Co DOMTY Egypt 14,003,728 1,712,083 1.08 1.08

Arab Cotton Ginning Egypt 19,222,864 2,350,170 2.75 2.75

Arata Corp Japan 140,610,465 17,190,909 1.81 1.81

Arca Continental SAB de CV Mexico 439,373,466 53,717,406 0.44 0.44

Arcelik AS Turkey 440,616,001 53,869,317 1.4 1.4

Archer-Daniels-Midland CoUnited

States1,576,964,832 192,798,307 0.86 0.86

Arezzo Industria e Comercio SA Brazil 93,902,511 11,480,437 0.78 0.78

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201729

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 30: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Ariake Japan Co Ltd Japan 58,184,547 7,113,591 0.25 0.25

Artnature Inc Japan 26,925,330 3,291,867 1.38 1.38

Arvind Ltd India 60,481,833 7,394,455 0.4 0.4

Aryzta AG Switzerland 873,568,888 106,801,749 2.93 2.93

Asahi Group Holdings Ltd Japan 1,469,977,429 179,718,123 0.75 0.75

Asaleo Care Ltd Australia 88,150,416 10,777,191 1.69 1.69

Asia File Corp BHD Malaysia 4,821,704 589,497 0.43 0.43

Asics Corp Japan 157,920,336 19,307,199 0.61 0.61

Associated British Foods PLCUnited

Kingdom2,575,818,153 314,917,219 1.04 1.04

Astra International Tbk PT Indonesia 2,103,416,299 257,161,791 1.04 1.04

As-me ESTELLE CO Ltd Japan 80,189 9,804 0.01 0.01

Atlantic Grupa dd Croatia 38,831,466 4,747,500 1.02 1.02

AtlasBX Co Ltd South Korea 304,239 37,196 0.01 0.01

Atria Oyj Finland 4,739,107 579,399 0.04 0.14

Atsugi Co Ltd Japan 26,566,274 3,247,969 1.63 1.63

Australian Agricultural Co Ltd Australia 37,910,463 4,634,899 0.75 0.75

Australian Vintage Ltd Australia 15,409,060 1,883,898 1.88 1.88

Austral Group SAA Peru 11,547,581 1,411,797 1.18 1.18

Autoliv IncUnited

States1,408,108,818 172,154,122 1.55 1.55

Autoneum Holding AG Switzerland 316,686,923 38,717,859 2.88 2.88

AviChina Industry & Technology Co Ltd China 45,420,070 5,553,017 0.17 0.17

Avon Products IncUnited

States92,525,645 11,312,102 1.2 1.2

AVI Ltd South Africa 358,144,615 43,786,440 1.39 1.39

Baiksan Co Ltd South Korea 28,047,888 3,429,110 2.19 2.19

Bajaj Auto Ltd India 1,828,620,170 223,565,463 1.48 1.48

Bajaj Corp Ltd India 8,700,428 1,063,707 0.1 0.1

Bajaj Hindusthan Sugar Ltd India 9,094,703 1,111,910 0.41 0.41

Balkrishna Industries Ltd India 574,286,045 70,211,697 1.94 1.94

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201730

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 31: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Balrampur Chini Mills Ltd India 15,871,047 1,940,380 0.38 0.38

Balta Group NV Belgium 41,226,744 5,040,345 1.34 1.34

Bandai Namco Holdings Inc Japan 1,189,793,788 145,463,122 2 2

Bangkok Ranch PCL Thailand 80,571,115 9,850,552 4.99 4.99

Bang & Olufsen A/S Denmark 177,437,035 21,693,293 2.08 2.08

Bapcor Ltd Australia 99,682,011 12,187,033 0.99 0.99

Barratt Developments PLCUnited

Kingdom1,676,298,709 204,942,778 2.31 2.31

Barry Callebaut AG Switzerland 1,141,666,857 139,579,167 1.22 1.22

BasicNet SpA Italy 16,914,819 2,067,991 0.77 0.77

Basso Industry Corp Taiwan 40,257,439 4,921,838 1.59 1.59

BaWang International Group Holding Ltd China 3,030,125 370,460 0.37 0.37

Bayerische Motoren Werke AG Germany 11,037,502,739 1,349,435,192 2.02 1.99

BayWa AG Germany 58,163,047 7,110,962 0.51 0.51

BAIC Motor Corp Ltd China 172,426,092 21,080,659 0.21 0.21

Beazer Homes USA IncUnited

States71,917,356 8,792,551 1.36 1.36

Becle SAB de CV Mexico 373,263,929 45,634,913 0.78 0.78

Bega Cheese Ltd Australia 136,464,395 16,684,015 1.59 1.59

Beiersdorf AG Germany 2,142,461,761 261,935,455 0.85 0.85

Beijing Dabeinong Technology Group

Co LtdChina 15,983,729 1,954,156 0.05 0.05

Beijing Enterprises Medical & Health

Group LtdHong Kong 2,694,939 329,481 0.11 0.11

Bellamy's Australia Ltd Australia 46,961,184 5,741,432 0.62 0.62

Bellway PLCUnited

Kingdom1,209,440,701 147,865,136 2.5 2.5

Bell Food Group AG Switzerland 207,274,226 25,341,161 1.44 1.44

Beneteau SA France 374,716,714 45,812,530 1.48 2.31

Berkeley Group Holdings PLCUnited

Kingdom1,526,668,569 186,649,131 2.43 2.43

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201731

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 32: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Best World International Ltd Singapore 10,371,788 1,268,045 0.23 0.23

Bigben Interactive France 7,910,497 967,130 0.28 0.32

Bijou Brigitte AG Germany 4,251,593 519,796 0.11 0.11

Billabong International Ltd Australia 11,075,615 1,354,095 0.89 0.89

Binggrae Co Ltd South Korea 105,340,868 12,878,880 2.22 2.22

Bioalpha Holdings Bhd Malaysia 6,182,068 755,814 1.51 1.51

BISI International Tbk PT Indonesia 15,296,036 1,870,080 0.47 0.47

Blackmores Ltd Australia 134,252,369 16,413,574 0.72 0.72

Blue Buffalo Pet Products IncUnited

States293,820,508 35,922,232 0.56 0.56

Bonduelle SCA France 271,867,963 33,238,333 1.25 1.96

BorgWarner IncUnited

States1,275,902,915 155,990,747 1.45 1.45

Bosch Ltd India 30,519,044 3,731,231 0.04 0.04

Bosideng International Holdings Ltd China 50,915,896 6,224,932 0.67 0.67

Boston Beer Co Inc/The United

States54,868,579 6,708,183 0.3

Bovis Homes Group PLCUnited

Kingdom501,277,055 61,285,683 2.87 2.87

Brembo SpA Italy 709,393,597 86,729,825 1.71 1.71

Breville Group Ltd Australia 228,144,991 27,892,802 2.18 2.18

Bridgestone Corp Japan 3,838,018,658 469,232,721 1.24 1.24

Briggs & Stratton CorpUnited

States189,820,288 23,207,258 2.13 2.13

Brilliance China Automotive Holdings

LtdChina 1,409,814,347 172,362,638 1.28 1.28

Britannia Industries Ltd India 134,852,377 16,486,931 0.19 0.19

Britvic PLCUnited

Kingdom571,245,610 69,839,976 2.4 2.4

Brown-Forman CorpUnited

States482,881,814 59,036,698 0.22

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201732

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 33: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Brunello Cucinelli SpA Italy 203,062,509 24,826,240 1.13 1.13

Brunswick Corp/DEUnited

States291,907,092 35,688,299 0.74 0.74

BRF SA Brazil 597,830,935 73,090,274 0.81 0.81

BRP Inc/CA Canada 7,437,189 909,264 0.02

Bunge LtdUnited

States747,670,953 91,409,581 0.97 0.97

Burberry Group PLCUnited

Kingdom1,800,830,201 220,167,886 2.14 2.14

Burelle SA France 13,072,374 1,598,217 0.03 0.06

BWX Ltd Australia 63,285,183 7,737,190 1.08 1.08

Byd Co Ltd China 408,057,905 49,888,794 0.2 0.2

Bytom SA Poland 2,858,949 349,533 0.64 0.64

B&G Foods IncUnited

States22,186,408 2,712,490 0.12 0.12

Caesarstone LtdUnited

States118,126,075 14,441,988 1.91 1.91

Cairn Homes PLC United

Kingdom141,718,789 17,326,412 0.97 0.97

Cairo Poultry Co Egypt 49,637,337 6,068,616 2.71 2.71

CalAtlantic Group IncUnited

States235,232,337 28,759,295 0.46 0.46

Calida Holding AG Switzerland 1,918,156 234,512 0.07 0.07

Callaway Golf CoUnited

States258,685,848 31,626,700 2.4 2.4

Cal-Maine Foods IncUnited

States25,355,882 3,099,987 0.08 0.14

Camil Alimentos SA Brazil 9,701,697 1,186,121 0.12 0.12

Campbell Soup CoUnited

States717,726,501 87,748,599 0.61 0.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201733

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Camping World Holdings IncUnited

States204,152,275 24,959,474 0.64 0.38

Canada Goose Holdings Inc Canada 240,660,575 29,422,946 0.13 0.87

Capevin Holdings Ltd South Africa 127,980,433 15,646,773 2.43 2.43

Carlsberg A/S Denmark 1,620,445,384 198,114,200 0.36 1.08

Carlsberg Brewery Malaysia Bhd Malaysia 82,674,857 10,107,754 0.87 0.87

Carter's IncUnited

States693,043,284 84,730,851 1.52 1.52

Casa Grande SAA Peru 37,520,109 4,587,175 2.85 2.85

Casio Computer Co Ltd Japan 183,126,369 22,388,866 0.6 0.6

CD Projekt SA Poland 30,824,389 3,768,562 0.14 0.14

Ceat Ltd India 63,601,742 7,775,892 0.63 0.63

Cell Biotech Co Ltd South Korea 122,678,334 14,998,543 4.27 4.27

Central Automotive Products Ltd Japan 3,423,637 418,571 0.14 0.14

Central Garden & Pet CoUnited

States215,465,461 26,342,614 0.21 1.34

Changshouhua Food Co Ltd China 13,874,280 1,696,257 0.62 0.62

Changyou.com Ltd China 64,320,905 7,863,816 0.06 0.21

Chaoda Modern Agriculture Holdings

LtdChina 5,746,205 702,526 0.59 0.59

Chargeurs SA France 56,878,536 6,953,919 0.95 0.98

Charoen Pokphand Enterprise Taiwan 24,615,972 3,009,527 0.52 0.52

Charoen Pokphand Indonesia Tbk PT Indonesia 26,160,516 3,198,361 0.09 0.09

Cheng Shin Rubber Industry Co Ltd Taiwan 407,781,367 49,854,984 0.87 0.87

Chigo Holding Ltd China 2,795,037 341,719 0.25 0.25

China Agri-Industries Holdings Ltd China 104,250,771 12,745,606 0.55 0.55

China First Capital Group Ltd China 24,223,549 2,961,549 0.16 0.16

China Fishery Group Ltd Singapore 181,534 22,194 0.37 0.37

China Foods Ltd China 63,177,135 7,723,980 0.47 0.47

China Harmony New Energy Auto

Holding LtdHong Kong 64,434,942 7,877,758 0.7 0.7

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201734

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 35: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

China Huiyuan Juice Group Ltd China 30,011,046 3,669,124 0.5 0.5

China Lilang Ltd China 62,820,323 7,680,356 0.79 0.79

China Mengniu Dairy Co Ltd Hong Kong 1,006,351,317 123,035,610 1.05 1.05

China Motor Corp Taiwan 103,794,227 12,689,789 1.05 1.05

China Sky Chemical Fibre Co Ltd China 133,457 16,316 0.15 0.15

China Strategic Holdings Ltd Hong Kong 7,571,499 925,685 0.51 0.51

Chlitina Holding Ltd Taiwan 11,168,839 1,365,492 0.34 0.34

Chocoladefabriken Lindt & Spruengli

AGSwitzerland 1,601,931,321 195,850,688 1.22 1.2

Chofu Seisakusho Co Ltd Japan 15,674,945 1,916,405 0.23 0.23

Chongqing Brewery Co Ltd China 48,635,883 5,946,180 0.38 0.38

Chongqing Changan Automobile Co Ltd China 80,222,912 9,807,981 0.19 0.19

Chori Co Ltd Japan 42,678,257 5,217,805 1.11 1.11

Christian Dior SE France 531,425,784 64,971,640 0.06 0.1

Chubu Shiryo Co Ltd Japan 30,017,117 3,669,866 0.54 0.54

Chuo Spring Co Ltd Japan 8,454,246 1,033,608 0.49 0.49

Church & Dwight Co IncUnited

States926,763,974 113,305,333 0.9 0.9

Cia Cervecerias Unidas SA Chile 128,599,892 15,722,507 0.28 0.28

Cia Hering Brazil 146,162,980 17,869,755 1.43 1.43

Cie Financiere Richemont SA Switzerland 7,548,316,457 922,850,405 0.18 0.98

Cie Generale des Etablissements

MichelinFrance 5,323,736,414 650,875,242 1.84 2.53

Cie Plastic Omnium SA France 796,399,852 97,367,132 0.89 1.42

Citizen Watch Co Ltd Japan 272,752,606 33,346,489 1.42 1.42

Ci:z Holdings Co Ltd Japan 95,607,269 11,688,859 0.47 0.47

CIE Automotive SA Spain 651,956,957 79,707,673 2.13 2.13

CJ CheilJedang Corp South Korea 210,924,252 25,787,410 0.44 0.69

CJ Corp South Korea 516,532,360 63,150,783 1.28 1.18

CJ E&M Corp South Korea 179,497,562 21,945,211 0.62 0.62

Clarion Co Ltd Japan 122,878,375 15,023,000 1.43 1.43

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201735

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cleanup Corp Japan 45,823,317 5,602,318 1.9 1.9

Cloetta AB Sweden 225,292,724 27,544,087 2.23 2.63

Clorox Co/TheUnited

States754,392,036 92,231,294 0.48 0.48

Coca-Cola Amatil Ltd Australia 353,459,608 43,213,655 0.9 0.9

Coca-Cola Bottlers Japan Holdings Inc Japan 833,785,602 101,937,880 1.35 1.35

Coca-Cola Bottling Co ConsolidatedUnited

States80,451,066 9,835,875 0.09 0.49

Coca-Cola Co/TheUnited

States12,868,403,107 1,573,279,430 0.8 0.8

Coca-Cola European Partners PLCUnited

States882,107,696 107,845,696 0.56 0.56

Coca-Cola Femsa SAB de CV Mexico 382,156,354 46,722,093 0.32

Coca-Cola HBC AGUnited

Kingdom3,528,223,625 431,357,458 3.6 3.6

Coca-Cola Icecek AS Turkey 65,782,228 8,042,476 0.35 0.35

Coffee Day Enterprises Ltd India 105,606,553 12,911,362 1.42 1.42

Colgate-Palmolive CoUnited

States4,695,081,305 574,016,432 0.87 0.87

Colgate-Palmolive India Ltd India 22,904,999 2,800,345 0.06 0.06

Columbia Sportswear CoUnited

States245,894,193 30,062,804 0.6 0.6

Com2uSCorp South Korea 144,210,407 17,631,035 1.08 1.08

Compa SA Romania 10,211,538 1,248,453 2.24 2.24

Conagra Brands IncUnited

States1,362,170,558 166,537,752 1.1 1.1

Consorcio ARA SAB de CV Mexico 87,748,446 10,728,046 2.09 2.09

Constellation Brands IncUnited

States2,257,475,273 275,996,904 0.3 0.62

Construtora Tenda SA Brazil 25,476,193 3,114,697 0.96 0.96

Continental AG Germany 3,727,085,296 455,670,108 0.84 0.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201736

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cooper Tire & Rubber CoUnited

States95,738,020 11,704,845 0.65 0.65

Cooper-Standard Holdings IncUnited

States290,538,344 35,520,958 1.65 1.65

Corbion NV Netherlands 556,268,942 68,008,942 3.54 3.54

Coreana Cosmetics Co Ltd South Korea 17,904,499 2,188,988 0.87 0.87

Corona Corp Japan 14,620,052 1,787,434 0.48 0.48

Corp Lindley SA Peru 42,256,023 5,166,183 0.63

Cosan LtdUnited

States187,681,222 22,945,738 0.21 0.89

Cosan SA Industria e Comercio Brazil 188,566,940 23,054,025 0.45 0.45

Cosmax BTI Inc South Korea 1,564,759 191,306 0.06 0.06

Cosmax Inc South Korea 139,681,934 17,077,388 1.55 1.55

Cosmo Lady China Holdings Co Ltd China 23,688,548 2,896,141 0.37 0.37

Costa Group Holdings Ltd Australia 245,136,661 29,970,188 1.82 1.82

Cott Corp Canada 452,632,973 55,338,502 2.38 2.38

Coty IncUnited

States747,611,623 91,402,327 0.61 0.61

Countryside Properties PLCUnited

Kingdom151,330,778 18,501,565 0.86 0.86

Cover 50 SpA Italy 5,904,058 721,825 1.31 1.31

Coway Co Ltd South Korea 837,255,186 102,362,069 1.5 1.5

COFCO Meat Holdings Ltd Hong Kong 32,030,285 3,915,994 0.5 0.5

COLOPL Inc Japan 424,838,782 51,940,409 3.75 3.75

CP Pokphand Co Ltd Hong Kong 73,769,234 9,018,960 0.47 0.47

Cranswick PLCUnited

Kingdom471,130,819 57,600,032 2.51 2.51

Crest Nicholson Holdings plcUnited

Kingdom515,603,692 63,037,245 3.34 3.34

Crocs IncUnited

States188,829,916 23,086,176 2.62 2.62

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201737

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Crown Confectionery Co Ltd South Korea 1,618,680 197,898 0.12 0.11

CROWNHAITAI Holdings Co Ltd South Korea 25,750,934 3,148,286 1.5 1.44

Cuckoo Electronics Co Ltd South Korea 10,885,751 1,330,882 0.09 0.09

Cummins India Ltd India 8,346,584 1,020,446 0.03 0.03

C&C Group PLC Ireland 223,819,928 27,364,024 2.59 2.59

Dabur India Ltd India 136,618,346 16,702,837 0.17 0.17

Daesang Corp South Korea 30,389,230 3,715,360 0.42 0.4

Daewon San Up Co Ltd South Korea 6,032,616 737,542 0.5 0.5

Dae Han Flour Mills Co Ltd South Korea 41,712,649 5,099,751 1.94 1.94

Dae-Il Corp South Korea 10,747,346 1,313,961 0.78 0.78

Daiichikosho Co Ltd Japan 313,716,438 38,354,690 1.34 1.34

Daikyonishikawa Corp Japan 148,621,857 18,170,375 1.52 1.52

Daimler AG Germany 11,077,624,234 1,354,340,410 1.49 1.49

Daiohs Corp Japan 6,990,748 854,683 0.49 0.49

Dairy Crest Group PLCUnited

Kingdom66,486,040 8,128,524 0.74 0.74

Daiwa House Industry Co Ltd Japan 2,675,692,125 327,127,721 1.28 1.28

Dali Foods Group Co Ltd China 170,565,913 20,853,236 0.17 0.17

Danang Rubber JSC Vietnam 30,928,708 3,781,316 2.99 2.99

Dana IncUnited

States604,548,078 73,911,506 1.59 1.59

Danone SA France 7,987,499,997 976,544,591 1.65 1.73

Daphne International Holdings Ltd China 12,243,217 1,496,845 1.46 1.46

Dari Couspate Morocco 16,495,432 2,016,717 1.77 1.77

Darling Ingredients IncUnited

States250,561,225 30,633,391 1.03 1.03

Davide Campari-Milano SpA Italy 188,426,219 23,036,821 0.26 0.26

Dean Foods CoUnited

States161,023,679 19,686,611 1.87 1.87

Deckers Outdoor CorpUnited

States258,220,348 31,569,788 1.23 1.23

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201738

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 39: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Dejin Resources Group Co Ltd China 734 90 0.16 0.16

Delice Holding Tunisia 14,036,500 1,716,090 0.47 0.47

Delphi Technologies PLCUnited

States732,249,839 89,524,209 1.93 1.93

Delta-Galil Industries Ltd Israel 55,284,212 6,758,998 0.77 0.77

Denso Corp Japan 4,382,817,584 535,839,350 1.12 1.12

Depa LtdUnited Arab

Emirates22,811,145 2,788,870 1.46 1.46

Depo Auto Parts Ind Co Ltd Taiwan 51,535,278 6,300,657 1.26 1.26

Descente Ltd Japan 102,379,277 12,516,799 0.94 0.94

Devro PLCUnited

Kingdom14,414,872 1,762,349 0.34 0.34

De' Longhi SpA Italy 977,791,355 119,543,895 2.64 2.64

Diageo PLCUnited

Kingdom13,539,933,959 1,655,380,190 1.8 1.8

Dice Sport & Casual Wear Egypt 27,567,080 3,370,326 4.69 4.69

Dien Quang JSC Vietnam 13,719,346 1,677,315 2.95 2.95

Digital Bros SpA Italy 44,507,453 5,441,441 2.94 2.94

Direcional Engenharia SA Brazil 47,116,529 5,760,425 2.2 2.2

Distell Group Ltd South Africa 120,175,642 14,692,566 0.58 0.58

Dogtas Kelebek Mobilya Sanayi ve

Ticaret ASTurkey 80,878,835 9,888,174 4.93 4.93

Dometic Group AB Sweden 473,035,838 57,832,938 1.92 1.92

Dongfeng Motor Group Co Ltd China 351,423,203 42,964,686 0.41 0.41

Dongsuh Cos Inc South Korea 6,131,516 749,634 0.03 0.03

Dongwon F&B Co Ltd South Korea 157,174,134 19,215,969 2.28 2.28

Dongwon Industries Co Ltd South Korea 181,081,689 22,138,885 2.1 2.1

Dong Ah Tire & Rubber Co Ltd/New South Korea 1,225,047 149,773 0.12 0.12

Dorel Industries Inc Canada 165,602,080 20,246,362 1.16 2.51

Dorman Products IncUnited

States152,557,570 18,651,552 0.9 0.9

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201739

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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DoubleUGames Co Ltd South Korea 173,603,144 21,224,565 2.5 2.5

Dr Pepper Snapple Group IncUnited

States1,790,420,024 218,895,147 1.25 1.25

DR Horton IncUnited

States1,183,923,729 144,745,454 0.75 0.75

DTR Automotive Corp South Korea 28,481,364 3,482,106 1.17 1.17

Duni AB Sweden 340,494 41,629 0.01 0.01

Dunlop Sports Co Ltd Japan 36,375,584 4,447,246 1.05 1.05

DyDo Group Holdings Inc Japan 102,604,915 12,544,385 1.43 1.43

East African Breweries Ltd Kenya 171,528,267 20,970,892 1.15 1.15

Ebro Foods SA Spain 367,814,290 44,968,645 1.25 1.25

Eclat Textile Co Ltd Taiwan 196,074,810 23,971,931 0.87 0.87

Edgewell Personal Care CoUnited

States431,486,135 52,753,108 1.61 1.61

Edita Food Industries SAE Egypt 11,187,717 1,367,800 0.21 0.21

EID Parry India Ltd India 308,531,155 37,720,742 3.67 3.67

Elco Ltd Israel 30,933,050 3,781,847 0.68 0.68

Elders Ltd Australia 139,412,052 17,044,393 2.3 2.3

Electrolux AB Sweden 2,012,849,742 246,089,205 1.99 2.47

Electronic Arts IncUnited

States2,506,344,720 306,423,459 0.95 0.95

ElringKlinger AG Germany 264,803,138 32,374,594 2.28 2.28

Elumeo SE Germany 18,580,321 2,271,613 2.99 2.99

Emak SpA Italy 15,107,521 1,847,032 0.65 0.65

Emami Ltd India 32,312,800 3,950,534 0.08 0.08

Embotelladora Andina SA Chile 264,154,692 32,295,316 0.68 0.68

Emmi AG Switzerland 661,653,272 80,893,136 2.1 2.1

Empresas Tricot SA Chile 84,061,179 10,277,244 2.04 2.04

Endo Lighting Corp Japan 7,739,473 946,221 0.58 0.58

Energizer Holdings IncUnited

States129,798,900 15,869,097 0.55 0.55

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201740

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ennakl Automobiles Tunisia 23,800,941 2,909,882 1.83 1.83

Essity AB Sweden 7,771,570,742 950,145,273 8.26 4.76

Estee Lauder Cos Inc/TheUnited

States1,627,803,473 199,013,794 0.09 0.42

Esthetics International Group Bhd Malaysia 3,588,829 438,767 1.07 1.07

Ethan Allen Interiors IncUnited

States95,970,476 11,733,264 1.49 1.49

Euro Cycles SA Tunisia 12,381,540 1,513,756 1.73 1.73

Exedy Corp Japan 131,606,464 16,090,088 1.07 1.07

Exide Industries Ltd India 782,380,132 95,653,094 3.22 3.22

Ezaki Glico Co Ltd Japan 55,414,532 6,774,931 0.2 0.2

Fabryki Mebli Forte SA Poland 118,529,252 14,491,280 4.21 4.21

Fancl Corp Japan 35,784,383 4,374,967 0.23 0.23

Farmsco South Korea 8,204,544 1,003,080 0.25 0.25

Far Eastern New Century Corp Taiwan 356,637,105 43,602,133 0.9 0.9

Faurecia France 1,277,174,696 156,146,234 0.98 1.45

FCC Co Ltd Japan 139,883,407 17,102,020 1.24 1.24

Federal Corp Taiwan 40,142,581 4,907,796 2.28 2.28

Feed One Co Ltd Japan 9,497,485 1,161,154 0.25 0.25

Feng TAY Enterprise Co Ltd Taiwan 136,212,962 16,653,275 0.55 0.55

Ferrari NV Italy 1,663,986,622 203,437,513 0.64 0.79

Fiat Chrysler Automobiles NV Italy 1,543,803,649 188,744,050 0.54 0.54

Fila SpA Italy 71,841,918 8,783,328 0.68 0.9

Firma Oponiarska Debica SA Poland 100,342,780 12,267,818 2.94 2.94

Fiskars OYJ Abp Finland 129,431,199 15,824,142 0.67 0.67

Fitbit IncUnited

States89,009,913 10,882,272 0.37 0.8

Fiyta Holdings Ltd China 4,049,131 495,043 0.14 0.14

Fleetwood Corp Ltd Australia 6,259,221 765,247 0.56 0.56

Flowers Foods IncUnited

States253,683,550 31,015,123 0.77 0.77

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201741

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Fomento Economico Mexicano SAB de

CVMexico 1,036,483,724 126,719,571 0.38 0.38

Ford Motor CoUnited

States2,273,333,559 277,935,723 0.34 0.56

Ford Otomotiv Sanayi AS Turkey 272,068,308 33,262,828 0.6 0.6

ForFarmers NV Netherlands 104,248,950 12,745,383 0.92 0.92

Formosa Taffeta Co Ltd Taiwan 106,949,657 13,075,569 0.74 0.74

Foshan Electrical and Lighting Co Ltd China 27,926,925 3,414,321 0.34 0.34

Foshan Haitian Flavouring & Food Co

LtdChina 212,598,215 25,992,067 0.12 0.12

Fossil Group IncUnited

States22,303,292 2,726,780 0.72 0.72

Fourlis Holdings SA Greece 92,937,862 11,362,500 3.21 3.21

France Bed Holdings Co Ltd Japan 31,705,566 3,876,294 0.97 0.97

Fraser & Neave Holdings Bhd Malaysia 92,093,812 11,259,307 0.46 0.46

Fras-Le SA Brazil 50,522,811 6,176,874 1.76 1.76

Fresh Del Monte Produce IncUnited

States106,347,457 13,001,945 0.55 0.55

Fromageries Bel SA France 62,441,768 7,634,075 0.1 0.19

Fujian Sunner Development Co Ltd China 83,310,490 10,185,466 0.37 0.37

Fujibo Holdings Inc Japan 88,740,136 10,849,290 2.8 2.8

Fujicco Co Ltd Japan 66,198,378 8,093,354 1.04 1.04

Fujitsu General Ltd Japan 353,680,356 43,240,643 1.8 1.8

Fujiya Co Ltd Japan 44,060,469 5,386,793 0.9 0.9

Fuji Oil Holdings Inc Japan 113,617,485 13,890,772 0.54 0.54

Fullshare Holdings Ltd China 121,700,773 14,879,027 0.16 0.16

Funai Electric Co Ltd Japan 23,944,517 2,927,435 1.05 1.05

Fuso Chemical Co Ltd Japan 70,942,735 8,673,395 0.9 0.9

Futaba Industrial Co Ltd Japan 73,165,384 8,945,134 1.07 1.07

Fuyao Glass Industry Group Co Ltd China 650,912,079 79,579,927 0.74 0.74

F-Tech Inc Japan 2,123,756 259,648 0.09 0.09

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201742

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Galliford Try PLCUnited

Kingdom295,415,096 36,117,185 2.5 2.5

Games Workshop Group PLCUnited

Kingdom111,158,926 13,590,191 1.18 1.18

GAN Shmuel Food Industries Israel 426,433 52,135 0.03 0.03

GAZ PJSC Russia 47,131,431 5,762,247 1.65 0.8

Geely Automobile Holdings Ltd China 4,749,874,603 580,715,412 1.87 1.87

General Mills IncUnited

States2,085,598,021 254,983,345 0.76 0.76

General Motors CoUnited

States2,772,418,167 338,953,360 0.58 0.58

Gentex CorpUnited

States465,768,044 56,944,384 0.96 0.96

Gentherm IncUnited

States11,593,016 1,417,352 0.12 0.12

Genuine Parts CoUnited

States1,058,365,227 129,394,784 0.93 0.93

Geox SpA Italy 3,920,537 479,321 0.05 0.05

Gerry Weber International AG Germany 44,318,998 5,418,401 1.03 1.03

Gestamp Automocion SA Spain 265,757,460 32,491,269 0.79 0.79

GFPT PCL Thailand 24,467,123 2,991,329 0.55 0.55

Giant Manufacturing Co Ltd Taiwan 123,714,296 15,125,199 0.73 0.73

Gildan Activewear Inc Canada 613,087,299 74,955,504 1.06 1.06

GKN PLCUnited

Kingdom1,148,197,438 140,377,590 1.89 1.89

Glanbia PLC Ireland 714,906,861 87,403,872 1.65 1.65

GlaxoSmithKline Consumer Healthcare

LtdIndia 41,368,690 5,057,699 0.12 0.12

Global Bio-Chem Technology Group Co

LtdChina 2,820,078 344,780 0.35 0.35

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201743

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Global Brands Group Holding Ltd Hong Kong 36,448,610 4,456,174 0.64 0.64

GLOBERIDE Inc Japan 7,892,532 964,934 0.41 0.41

GNCO Co Ltd South Korea 1,648,723 201,571 0.11 0.11

Godrej Consumer Products Ltd India 128,738,265 15,739,425 0.15 0.15

Godrej Industries Ltd India 13,312,536 1,627,579 0.05 0.05

Goldwin Inc Japan 26,324,800 3,218,446 0.34 0.34

Golf & Co Ltd Israel 2,394,073 292,697 0.44 0.44

Goodbaby International Holdings Ltd Hong Kong 79,054,752 9,665,163 1.06 1.06

Goodyear Lastikleri TAS Turkey 5,913,504 722,980 0.24 0.24

Goodyear Tire & Rubber Co/TheUnited

States1,687,211,975 206,277,024 2.59 2.59

GoPro IncUnited

States3,498,968 427,781 0.01 0.04

Gorenje dd Slovenia 784,675 95,934 0.06 0.06

GOLFZON Co Ltd South Korea 42,128,045 5,150,537 1.96 1.96

GrainCorp Ltd Australia 547,222,377 66,902,917 4.56 4.56

Granges AB Sweden 104,100,043 12,727,178 1.64 1.64

Grape King Bio Ltd Taiwan 85,412,549 10,442,462 1.1 1.1

Great Wall Enterprise Co Ltd Taiwan 175,662,291 21,476,314 2.59 2.59

Great Wall Motor Co Ltd China 361,906,931 44,246,417 0.42 0.42

Greencore Group PLCUnited

Kingdom370,601,563 45,309,415 2.06 2.06

Greenyard NV Belgium 19,973,545 2,441,948 0.23 0.23

Gree Electric Appliances Inc of Zhuhai China 239,341,300 29,261,653 0.07 0.07

Grendene SA Brazil 149,193,448 18,240,257 0.71 0.71

Gruma SAB de CV Mexico 615,947,924 75,305,241 1.37 1.37

Grupo Bimbo SAB de CV Mexico 148,332,917 18,135,049 0.17 0.17

Grupo Herdez SAB de CV Mexico 6,989,455 854,525 0.08 0.08

Grupo Lala SAB de CV Mexico 26,716,490 3,266,334 0.09 0.09

Grupo Minsa SAB de CV Mexico 3,577,540 437,387 0.16 0.16

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201744

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Grupo Nutresa SA Colombia 377,763,102 46,184,978 1.08 1.08

GS Yuasa Corp Japan 254,343,296 31,095,783 1.51 1.51

Guangdong Haid Group Co Ltd China 1,082,945,639 132,399,963 2.34 2.34

Guangzhou Automobile Group Co Ltd China 926,492,375 113,272,127 0.65 0.65

Guararapes Confeccoes SA Brazil 31,654,320 3,870,029 0.27 0.14

Guinness Nigeria PLC Nigeria 81,660,591 9,983,751 1.75 1.75

GungHo Online Entertainment Inc Japan 300,816,735 36,777,584 1.4 1.4

Gunze Ltd Japan 160,401,297 19,610,519 1.63 1.63

GUD Holdings Ltd Australia 108,336,037 13,245,067 1.61 1.61

G-7 Holdings Inc Japan 2,897,254 354,216 0.11 0.11

G-Tekt Corp Japan 103,850,812 12,696,707 1.41 1.41

Haier Electronics Group Co Ltd China 701,670,475 85,785,603 1.12 1.12

Hain Celestial Group Inc/TheUnited

States408,902,499 49,992,053 1.14 1.14

Haldex AB Sweden 130,844,003 15,996,871 3.4 3.4

Halla Holdings Corp South Korea 116,610,990 14,256,755 2.25 2.25

Handsome Co Ltd South Korea 54,902,530 6,712,334 0.93 0.93

Hanesbrands IncUnited

States474,418,130 58,001,935 0.76 0.76

Hangzhou Robam Appliances Co Ltd China 204,203,277 24,965,710 0.36 0.36

Hankook Tire Co Ltd South Korea 769,886,688 94,125,656 1.49 1.49

Hankook Tire Worldwide Co Ltd South Korea 27,476,280 3,359,225 0.2 0.2

Hanon Systems South Korea 319,731,417 39,090,076 0.56 0.56

Hansae Co Ltd South Korea 85,001,248 10,392,176 1.03 1.03

Hansae Yes24 Holdings Co Ltd South Korea 56,848,653 6,950,265 1.73 1.73

Hanson International Tbk PT Indonesia 49,736,198 6,080,703 0.93 0.93

Hanssem Co Ltd South Korea 288,389,146 35,258,198 0.89 0.89

Happinet Corp Japan 82,841,674 10,128,149 2.16 2.16

Harim Holdings Co Ltd South Korea 5,406,871 661,039 0.21 0.21

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201745

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Harley-Davidson IncUnited

States675,643,578 82,603,578 0.96 0.96

Hasbro IncUnited

States910,062,683 111,263,448 0.98 0.98

Headlam Group PLCUnited

Kingdom26,426,113 3,230,833 0.48 0.48

Health and Happiness H&H International

Holdings LtdChina 114,037,756 13,942,154 0.33 0.33

Hefei Meiling Co Ltd China 18,362,001 2,244,922 0.44 0.44

Heineken Holding NV Netherlands 2,802,510,434 342,632,414 1.2 1.2

Heineken Malaysia Bhd Malaysia 63,803,114 7,800,512 0.55 0.55

Heineken NV Netherlands 4,333,762,498 529,841,919 0.88 0.88

Helen of Troy LtdUnited

States293,660,813 35,902,708 1.37 1.37

Hella GmbH & Co KGaA Germany 982,229,082 120,086,447 1.75 1.75

Hemas Holdings PLC Sri Lanka 115,378,410 14,106,061 2.99 2.99

Henan Shuanghui Investment &

Development Co LtdChina 87,989,444 10,757,511 0.08 0.08

Hengan International Group Co Ltd China 651,066,883 79,598,854 0.6 0.6

Henkel AG & Co KGaA Germany 8,094,239,908 989,594,516 1.68 1.77

Herbalife LtdUnited

States287,782,199 35,183,994 0.6 0.6

Herman Miller IncUnited

States416,414,624 50,910,479 2.13 2.13

Hermes International France 3,910,504,952 478,094,831 0.51 0.85

Hero MotoCorp Ltd India 1,373,682,045 167,945,136 1.42 1.42

Hershey Co/TheUnited

States994,939,248 121,640,381 0.14 0.51

Hey Song Corp Taiwan 46,000,491 5,623,979 1.32 1.32

Hindustan Unilever Ltd India 429,579,779 52,520,039 0.11 0.11

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201746

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hisense Kelon Electrical Holdings Co

LtdChina 97,617,784 11,934,663 0.74 0.74

Hitejinro Holdings Co Ltd South Korea 15,119,241 1,848,465 0.84 0.83

Hite Jinro Co Ltd South Korea 165,308,696 20,210,493 1.26 1.26

HKScan OYJ Finland 12,879,596 1,574,648 0.27 0.76

HNI CorpUnited

States197,565,595 24,154,193 1.44 1.44

Hokuto Corp Japan 25,107,925 3,069,672 0.51 0.51

Homecast Co Ltd South Korea 1,221,612 149,353 0.03 0.03

Homeritz Corp Bhd Malaysia 6,090,308 744,596 1.11 1.11

Honda Motor Co Ltd Japan 5,745,810,902 702,477,691 1.13 1.13

Honeys Holdings Co Ltd Japan 99,959,547 12,220,965 4.18 4.18

Hong Leong Industries Bhd Malaysia 68,286,744 8,348,676 1.09 1.09

Honma Golf Ltd Japan 112,451,722 13,748,247 2.26 2.26

Hormel Foods CorpUnited

States670,708,096 82,000,171 0.43 0.43

Hota Industrial Manufacturing Co Ltd Taiwan 72,001,341 8,802,819 0.7 0.7

House Foods Group Inc Japan 124,516,511 15,223,277 0.45 0.45

Huawei Culture Co Ltd China 37,653,067 4,603,430 0.4 0.4

Huayu Automotive Systems Co Ltd China 70,291,964 8,593,833 0.06 0.06

Huegli Holding AG Switzerland 283,428 34,652 0.01 0.01

Hugel Inc South Korea 358,665,549 43,850,129 1.95 1.95

Humax Co Ltd South Korea 39,523,309 4,832,084 2.43 2.43

Hunter Douglas NV Netherlands 26,017,569 3,180,885 0.1 0.1

Huon Aquaculture Group Ltd Australia 31,513,162 3,852,771 1.19 1.19

Hup Seng Industries Bhd Malaysia 49,971,473 6,109,468 2.84 2.84

Husqvarna AB Sweden 792,737,282 96,919,350 1.38 1.76

HUGO BOSS AG Germany 513,777,350 62,813,958 1.05 1.05

Hypermarcas SA Brazil 375,207,357 45,872,515 0.67 0.67

Hyundai Corp Holdings Inc South Korea 9,208,243 1,125,792 0.91 0.91

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201747

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hyundai Livart Furniture Co Ltd South Korea 13,468,007 1,646,586 0.27 0.27

Hyundai Mobis Co Ltd South Korea 1,716,322,753 209,836,082 0.88 0.88

Hyundai Motor Co South Korea 3,066,071,290 374,855,128 1 0.98

Hyundai Wia Corp South Korea 142,123,127 17,375,846 1.05 1.05

Hyungkuk F&B Co Ltd South Korea 2,259,072 276,192 0.46 0.46

H-One Co Ltd Japan 3,923,735 479,712 0.11 0.11

iRobot CorpUnited

States248,140,058 30,337,381 1.42 1.42

Ichikoh Industries Ltd Japan 39,435,466 4,821,345 0.56 0.56

IFAD Autos Ltd Bangladesh 77,972,205 9,532,812 2.89 2.89

IGG Inc Hong Kong 128,471,783 15,706,845 1.1 1.1

Ilji Technology Co Ltd South Korea 12,830,058 1,568,591 2.51 2.51

Imasen Electric Industrial Japan 6,698,027 818,895 0.32 0.32

Inaba Seisakusho Co Ltd Japan 6,127,433 749,134 0.32 0.32

Indofood CBP Sukses Makmur Tbk PT Indonesia 463,573,015 56,676,021 0.74 0.74

Indomobil Sukses Internasional Tbk PT Indonesia 6,076,859 742,951 0.43 0.43

Industrias Bachoco SAB de CV Mexico 328,957,724 40,218,077 1.4 1.4

Industri Jamu Dan Farmasi Sido Muncul

Tbk PTIndonesia 44,038,026 5,384,050 0.89 0.89

Inghams Group Ltd Australia 61,774,758 7,552,526 0.74 0.74

Ingredion IncUnited

States689,558,893 84,304,852 0.84 0.84

Inner Mongolia Eerduosi Resourses Co

LtdChina 35,194,109 4,302,800 0.37 0.37

Inner Mongolia Yili Industrial Group Co

LtdChina 1,903,177,887 232,680,823 0.77 0.77

Interface IncUnited

States326,918,866 39,968,808 2.64 2.64

International Breweries PLC Nigeria 86,427,591 10,566,560 2.12 2.12

International Games System Co Ltd Taiwan 26,755,463 3,271,099 0.89 0.89

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201748

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Interparfums SA France 137,774,520 16,844,189 0.6 1.04

Inter Cars SA Poland 21,891,319 2,676,413 0.21 0.21

INFAC Corp South Korea 5,525,733 675,571 1.59 1.59

Iochpe Maxion SA Brazil 74,726,836 9,136,036 0.94 0.94

Itoham Yonekyu Holdings Inc Japan 221,599,273 27,092,528 1 1

Itoki Corp Japan 82,975,637 10,144,527 2.62 2.62

Ito En Ltd Japan 206,970,005 25,303,967 0.71 0.73

Iwasaki Electric Co Ltd Japan 12,369,007 1,512,224 1.3 1.3

Iwatsuka Confectionery Co Ltd Japan 10,811,118 1,321,758 0.47 0.47

Janome Sewing Machine Co Ltd Japan 6,885,902 841,864 0.58 0.58

Japan Wool Textile Co Ltd/The Japan 117,614,722 14,379,471 1.72 1.72

JBS SA Brazil 1,173,003,056 143,410,302 1.78 1.78

Jenn Feng New Energy Co Ltd Taiwan 385,816 47,169 0.33 0.33

JG Summit Holdings Inc Philippines 54,062,953 6,609,688 0.06 0.06

Jiangling Motors Corp Ltd China 17,391,630 2,126,285 0.15 0.15

Jiangsu Yanghe Brewery Joint-Stock Co

LtdChina 986,443,030 120,601,641 0.45 0.45

JM Smucker Co/TheUnited

States1,216,341,483 148,708,820 1.05 1.05

Johnson Health Tech Co Ltd Taiwan 19,221,962 2,350,060 0.64 0.64

JOST Werke AG Germany 13,650,018 1,668,839 0.22 0.22

JTEKT Corp Japan 627,209,706 76,682,096 1.3 1.3

Juhayna Food Industries Egypt 63,671,027 7,784,363 1.4 1.4

JUMBO SA Greece 424,686,406 51,921,779 2.13 2.13

JVC Kenwood Corp Japan 83,829,455 10,248,914 2.15 2.15

J-Oil Mills Inc Japan 60,228,622 7,363,497 1.26 1.26

J&J Snack Foods CorpUnited

States276,886,252 33,851,865 1.19 1.19

Kagome Co Ltd Japan 4,345,293 531,252 0.01 0.01

Kakiyasu Honten Co Ltd Japan 3,026,287 369,991 0.12 0.12

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201749

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kameda Seika Co Ltd Japan 64,003,321 7,824,989 0.76 0.76

Kao Corp Japan 3,253,318,781 397,747,838 1.19 1.19

Kasai Kogyo Co Ltd Japan 134,515,401 16,445,732 2.52 2.52

Katitas Co Ltd Japan 28,164,845 3,443,409 0.38 0.38

Kato Sangyo Co Ltd Japan 126,936,320 15,519,121 1.11 1.11

Kaufman & Broad SA France 61,467,448 7,514,955 0.74 0.75

Kaveri Seed Co Ltd India 24,480,998 2,993,025 0.51 0.51

Kawai Musical Instruments

Manufacturing Co LtdJapan 9,834,274 1,202,330 0.58 0.58

Kawan Food Bhd Malaysia 5,816,824 711,160 0.2 0.2

KAON Media Co Ltd South Korea 16,576,191 2,026,590 1.33 1.33

KB HomeUnited

States246,932,766 30,189,779 0.99 0.99

Keihin Corp Japan 148,391,819 18,142,251 1.2 1.2

Kellogg CoUnited

States1,015,268,114 124,125,770 0.53 0.53

Kenda Rubber Industrial Co Ltd Taiwan 106,323,196 12,998,979 1.18 1.18

Kenko Mayonnaise Co Ltd Japan 105,924,939 12,950,288 2.17 2.17

Kernel Holding SA Poland 225,896,491 27,617,902 2.46 2.46

Kerry Group PLC Ireland 1,933,311,827 236,364,971 1.2 1.2

Kerur Holdings Ltd Israel 14,592,849 1,784,109 0.46 0.46

Kewpie Corp Japan 289,150,082 35,351,230 0.88 0.88

Key Coffee Inc Japan 13,556,069 1,657,353 0.38 0.38

Kia Motors Corp South Korea 959,601,457 117,320,014 0.92 0.92

Kikkoman Corp Japan 575,782,555 70,394,659 0.83 0.83

Kimberly-Clark CorpUnited

States2,844,170,288 347,725,710 0.82 0.82

Kimberly-Clark de Mexico SAB de CV Mexico 46,257,551 5,655,407 0.1 0.1

KingClean Electric Co Ltd China 24,754,162 3,026,422 0.1 0.1

Kingsoft Corp Ltd China 201,310,802 24,612,078 0.56 0.56

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201750

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kinpo Electronics Taiwan 114,330,283 13,977,918 2.71 2.71

Kirin Holdings Co Ltd Japan 2,347,977,941 287,061,679 1.25 1.25

Knoll IncUnited

States216,995,952 26,529,731 2.33 2.33

Koito Manufacturing Co Ltd Japan 768,509,487 93,957,281 0.83 0.83

Kokuyo Co Ltd Japan 253,561,332 31,000,181 1.3 1.3

Kolao Holdings South Korea 1,392,246 170,215 0.08 0.08

Komatsu Seiren Co Ltd Japan 9,392,856 1,148,362 0.32 0.32

Konami Holdings Corp Japan 361,727,369 44,224,464 0.56 0.56

Korea Kolmar Co Ltd South Korea 195,357,431 23,884,224 1.48 1.48

Korea Kolmar Holdings Co Ltd South Korea 2,222,291 271,695 0.04 0.04

Kose Corp Japan 34,752,173 4,248,770 0.04 0.04

Kotobuki Spirits Co Ltd Japan 63,016,644 7,704,358 0.44 0.44

Kraft Heinz Co/TheUnited

States5,312,071,573 649,449,109 0.69 0.69

Kri-Kri Milk Industry SA Greece 5,912,702 722,882 0.6 0.6

KRBL Ltd India 28,841,486 3,526,134 0.16 0.16

Kumho Tire Co Inc South Korea 33,893,860 4,143,833 0.63 0.63

Kurabo Industries Ltd Japan 136,248,581 16,657,629 2.11 2.11

Kweichow Moutai Co Ltd China 2,608,344,695 318,893,885 0.24 0.24

KWS Saat SE Germany 211,695,226 25,881,669 0.98 0.98

Kyokuyo Co Ltd Japan 27,349,560 3,343,733 0.8 0.8

KYB Corp Japan 149,192,749 18,240,172 1.21 1.21

Lamb Weston Holdings IncUnited

States619,290,498 75,713,901 0.92 0.92

Lancaster Colony CorpUnited

States261,680,175 31,992,784 0.9 0.9

Land & Houses PCL Thailand 342,853,701 41,916,986 1.09 1.09

Land'Or SA Tunisia 3,379,735 413,203 2.86

Lao Feng Xiang Co Ltd China 111,113,532 13,584,641 0.7 0.7

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201751

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Largan Precision Co Ltd Taiwan 1,562,965,324 191,086,740 1.05 1.05

Lay Hong BHD Malaysia 33,645,889 4,113,516 2.73 2.73

La Doria SpA Italy 18,524,302 2,264,765 0.37 0.37

La-Z-Boy IncUnited

States332,811,457 40,689,230 2.76 2.76

LCI IndustriesUnited

States282,679,236 34,560,110 1.07 1.07

Lealea Enterprise Co Ltd Taiwan 12,850,514 1,571,092 0.42 0.42

Lear CorpUnited

States5,236,695,372 640,233,683 5.36 5.38

Ledo dd Croatia 2,280,262 278,783 1.92 1.92

Leggett & Platt IncUnited

States683,432,555 83,555,852 1.33 1.33

Leifheit AG Germany 29,175,902 3,567,020 1.07 1.07

Lennar CorpUnited

States598,104,909 73,123,770 0.26 0.49

Lesieur Cristal Morocco 57,466,025 7,025,745 1.36 1.36

Leucadia National CorpUnited

States429,493,020 52,509,432 0.56 0.56

Le Belier France 3,696,669 451,951 0.07 0.11

LEC Inc Japan 48,722,372 5,956,753 1.17 1.17

LES Enphants Co Ltd Taiwan 3,581,640 437,888 0.54 0.54

LF Corp South Korea 138,013,343 16,873,388 1.97 1.97

LG Electronics Inc South Korea 1,532,139,404 187,317,990 1.08 1.13

LG Household & Health Care Ltd South Korea 1,272,826,634 155,614,643 0.82 0.84

Lien Hwa Industrial Corp Taiwan 52,830,195 6,458,972 0.55 0.55

Lii Hen Industries BHD Malaysia 28,812,655 3,522,609 2.2 2.2

Linamar Corp Canada 599,082,151 73,243,247 1.92 1.92

Linas Agro AB Lithuania 7,151,746 874,366 0.72 0.72

Lion Brewery Ceylon PLC Sri Lanka 30,924,908 3,780,851 1.34 1.34

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201752

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Lion Corp Japan 314,952,489 38,505,809 0.79 0.79

Li Ning Co Ltd China 115,417,962 14,110,897 0.8 0.8

Li Peng Enterprise Co Ltd Taiwan 24,642,032 3,012,713 1.07 1.07

Li & Fung Ltd Hong Kong 406,298,343 49,673,671 1.07 1.07

LKQ CorpUnited

States1,550,638,447 189,579,667 1.51 1.51

Lock&Lock Co Ltd South Korea 128,058,204 15,656,281 1.12 1.12

Lotte Chilsung Beverage Co Ltd South Korea 42,829,566 5,236,304 0.53 0.48

Lotte Confectionery Co Ltd South Korea 5,501,588 672,619 0.12 0.12

Lotte Corp South Korea 99,645,710 12,182,595 0.27 0.27

Lotte Food Co Ltd South Korea 283,082 34,609 0.01 0.01

LPP SA Poland 41,946,592 5,128,353 0.06 0.11

Lululemon Athletica IncUnited

States524,282,580 64,098,318 0.6 0.6

Luthai Textile Co Ltd China 46,998,733 5,746,023 0.57 0.57

Luxottica Group SpA Italy 2,029,195,082 248,087,572 0.83 0.83

Luzhou Laojiao Co Ltd China 442,845 54,142 0

LVMH Moet Hennessy Louis Vuitton SE France 14,445,365,185 1,766,077,400 0.81 1.18

L'Oreal SA France 10,143,459,648 1,240,130,285 1 1

Maabarot Products Ltd Israel 825,041 100,869 0.08 0.08

Madara Cosmetics AS Latvia 810,295 99,066 0.29 0.29

Maeil Dairies Co Ltd South Korea 111,649,540 13,650,173 2.9 2.9

Maeil Holdings Co Ltd South Korea 43,698,157 5,342,497 2.69 2.69

Magna International Inc Canada 1,818,486,318 222,326,507 1.09 1.09

Magni-Tech Industries Bhd Malaysia 57,368,902 7,013,871 3.07 3.07

Mahle-Metal Leve SA Brazil 24,155,073 2,953,178 0.32 0.32

Maisons du Monde SA France 562,723,722 68,798,098 3.35 3.35

Makalot Industrial Co Ltd Taiwan 94,696,071 11,577,457 1.32 1.32

Makita Corp Japan 766,058,151 93,657,583 0.8 0.8

Malayan Flour Mills Bhd Malaysia 15,236,144 1,862,757 0.72 0.72

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201753

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Malee Group PCL Thailand 22,079,727 2,699,448 0.82 0.82

Mandom Corp Japan 198,640,792 24,285,645 1.53 1.53

Mando Corp South Korea 372,822,730 45,580,973 1.68 1.68

Man Wah Holdings Ltd Hong Kong 261,723,274 31,998,053 0.88 0.88

Maple Leaf Foods Inc Canada 292,374,942 35,745,498 0.98 0.98

Marfrig Global Foods SA Brazil 34,492,197 4,216,985 0.31 0.31

Marico Ltd India 66,007,153 8,069,975 0.12 0.12

Marimekko OYJ Finland 71,622 8,756 0.01 0.01

Martinrea International Inc Canada 244,585,990 29,902,864 2.7 2.7

Marudai Food Co Ltd Japan 96,221,827 11,763,994 1.98 1.98

Maruha Nichiro Corp Japan 149,092,316 18,227,893 1.15 1.15

Maruti Suzuki India Ltd India 1,281,374,209 156,659,662 0.34 0.34

Mattel IncUnited

States392,909,674 48,036,785 0.91 0.91

Mavi Giyim Sanayi Ve Ticaret AS Turkey 160,064,732 19,569,371 2.58 2.58

Maxell Holdings Ltd Japan 271,223,557 33,159,549 2.91 2.91

Mayora Indah Tbk PT Indonesia 721,146,739 88,166,754 2.65 2.65

Mazda Motor Corp Japan 873,595,166 106,804,962 1.26 1.26

McBride PLCUnited

Kingdom34,131,469 4,172,883 0.73 0.73

McCarthy & Stone PLCUnited

Kingdom173,497,441 21,211,642 1.85 1.85

McCormick & Co Inc/MDUnited

States873,779,211 106,827,463 0.8

McLeod Russel India Ltd India 17,155,690 2,097,439 0.6 0.6

MDC Holdings IncUnited

States227,972,615 27,871,728 1.56 1.56

Megmilk Snow Brand Co Ltd Japan 392,621,060 48,001,499 2.29 2.29

Mekonomen AB Sweden 16,373,127 2,001,764 0.31 0.31

Melstacorp PLC Sri Lanka 47,873,274 5,852,944 1.3 1.3

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201754

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Merida Industry Co Ltd Taiwan 107,214,082 13,107,898 1.04 1.04

Meritage Homes CorpUnited

States15,054,820 1,840,589 0.09 0.09

Metall Zug AG Switzerland 37,071,215 4,532,293 0.05 0.05

Mezzan Holding Co KSCC Kuwait 20,369,896 2,490,405 0.31 0.31

MEIJI Holdings Co Ltd Japan 1,321,488,838 161,564,041 1.24 1.24

MGI Coutier France 53,438,854 6,533,386 0.36 0.6

MHP SE Ukraine 488,507,233 59,724,457 4.86 4.86

Michael Kors Holdings LtdUnited

States958,738,721 117,214,537 1.22 1.22

Microbio Co Ltd Taiwan 11,929,290 1,458,464 0.46 0.46

Middleby Corp/TheUnited

States456,833,272 55,852,026 0.74 0.74

Midea Group Co Ltd China 1,439,011,304 175,932,232 0.32 0.32

Milbon Co Ltd Japan 88,013,382 10,760,437 0.97 0.97

Minerva SA/Brazil Brazil 45,806,728 5,600,290 0.76 0.76

Ming Le Sports AG Germany 3,056 374 0.01 0.01

Minth Group Ltd Hong Kong 1,060,082,594 129,604,748 1.88 1.88

Misawa Homes Co Ltd Japan 37,958,573 4,640,781 1.22 1.22

Mitsuba Corp Japan 53,123,196 6,494,794 0.95 0.95

Mitsubishi Motors Corp Japan 520,341,567 63,616,494 0.59 0.59

Mitsubishi Pencil Co Ltd Japan 81,803,808 10,001,260 0.71 0.71

Mitsubishi Shokuhin Co Ltd Japan 101,843,760 12,451,327 0.73 0.73

Mitsui Home Co Ltd Japan 32,281,748 3,946,738 0.86 0.86

Mitsui Sugar Co Ltd Japan 172,497,223 21,089,356 1.76 1.76

Mizuno Corp Japan 57,839,548 7,071,411 0.9 0.9

MM Group for Industry & International

Trade SAEEgypt 66,563,528 8,137,997 2.72 2.72

Modine Manufacturing CoUnited

States130,459,648 15,949,880 1.57 1.57

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201755

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Mohawk Industries IncUnited

States1,141,917,535 139,609,814 0.68 0.68

Molson Coors Brewing CoUnited

States548,755,351 67,090,337 0.38 0.38

Molson Coors Canada Inc Canada 18,915,323 2,312,570 0.16 0.16

Moncler SpA Italy 1,308,201,783 159,939,577 2.01 2.01

Mondelez International IncUnited

States4,891,582,956 598,040,548 0.94 0.94

Monsanto CoUnited

States3,214,715,439 393,028,228 0.76 0.76

Monster Beverage CorpUnited

States1,536,951,404 187,906,301 0.53 0.53

Morinaga Milk Industry Co Ltd Japan 248,732,829 30,409,853 1.35 1.35

Morinaga & Co Ltd/Japan Japan 442,662,707 54,119,546 1.97 1.97

Morito Co Ltd Japan 3,873,897 473,619 0.17 0.17

Motherson Sumi Systems Ltd India 46,370,553 5,669,222 0.05 0.05

Movado Group IncUnited

States83,332,926 10,188,209 0.38 1.38

Mriya Agro Holding PLC Ukraine 253 31 0.1 2.42

MRF Ltd India 81,253,975 9,934,038 0.21 0.21

Muhak Co Ltd South Korea 31,637,719 3,867,999 0.74 0.74

Mulberry Group PLCUnited

Kingdom362,919 44,370 0.01 0.01

Multi Bintang Indonesia Tbk PT Indonesia 316,404,105 38,683,282 1.82 1.82

Murakami Corp Japan 7,748,926 947,377 0.24 0.24

Musashi Seimitsu Industry Co Ltd Japan 92,270,907 11,280,958 1.13 1.13

Muyuan Foodstuff Co Ltd China 54,356,644 6,645,595 0.07 0.07

M Dias Branco SA Brazil 117,605,812 14,378,381 0.27 0.27

Nagaileben Co Ltd Japan 55,252,063 6,755,068 0.7 0.7

Nagatanien Holdings Co Ltd Japan 31,971,347 3,908,788 0.81 0.81

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201756

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nakamuraya Co Ltd Japan 146,960 17,967 0.01 0.01

Namchow Holdings Co Ltd Taiwan 88,627,668 10,835,539 1.72 1.72

Namyang Dairy Products Co Ltd South Korea 43,672,867 5,339,406 1.14 0.92

Nan Kang Rubber Tire Co Ltd Taiwan 58,387,958 7,138,459 0.95 0.95

Nan Liu Enterprise Co Ltd Taiwan 6,199,963 758,002 0.2 0.2

National Agriculture Development

Co/The

Saudi

Arabia37,860,020 4,628,732 0.63

National Beverage CorpUnited

States13,961,774 1,706,954 0.04 0.04

National Presto Industries IncUnited

States86,721,264 10,602,464 1.53 1.53

Natura Cosmeticos SA Brazil 355,513,449 43,464,756 1.01 1.01

Naturex France 4,784,525 584,952 0.04 0.06

NCSoft Corp South Korea 688,750,059 84,205,965 0.92 0.92

Nemak SAB de CV Mexico 96,121,016 11,751,669 0.52 0.52

Neowiz South Korea 28,578,005 3,493,921 1.39 1.39

Neo-Neon Holdings Ltd Hong Kong 1,303 159 0

Nestle India Ltd India 219,858,887 26,879,750 0.23 0.23

Nestle Lanka PLC Sri Lanka 38,006,166 4,646,600 0.82 0.82

Nestle Malaysia Bhd Malaysia 84,306,604 10,307,250 0.17 0.17

Nestle Nigeria PLC Nigeria 74,947,822 9,163,054 0.27 0.27

Nestle SA Switzerland 51,039,855,463 6,240,086,983 2.33 2.33

NetDragon Websoft Holdings Ltd China 35,521,992 4,342,887 0.29 0.29

Netmarble Games Corp South Korea 386,766,302 47,285,701 0.32 0.32

Neto ME Holdings Ltd Israel 9,145,377 1,118,106 0.31 0.31

Newell Brands IncUnited

States834,725,668 102,052,812 0.67 0.67

New Focus Auto Tech Holdings Ltd Hong Kong 13,249,013 1,619,812 0.45 0.45

New Provenance Everlasting Holdings

LtdHong Kong 6,323,336 773,085 0.18 0.18

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201757

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nexen Corp South Korea 19,677,956 2,405,809 0.63 0.59

Nexen Tire Corp South Korea 97,857,732 11,963,999 1.11 1.04

Nexon Co Ltd Japan 820,661,573 100,333,348 0.78 0.78

Nexteer Automotive Group Ltd Hong Kong 714,145,592 87,310,800 1.46 1.46

NEW Zealand King Salmon Investments

Ltd

New

Zealand16,772,844 2,050,633 0.9 0.9

NGK Spark Plug Co Ltd Japan 417,517,621 51,045,330 0.99 0.99

NHK Spring Co Ltd Japan 343,112,723 41,948,654 1.56 1.56

NHN Entertainment Corp South Korea 8,558,597 1,046,366 0.08 0.08

NH Foods Ltd Japan 641,882,261 78,475,950 1.5 1.5

Nichirei Corp Japan 633,415,908 77,440,861 2 2

Nien Hsing Textile Co Ltd Taiwan 27,093,641 3,312,444 1.8 1.8

Nifco Inc/Japan Japan 594,652,888 72,701,729 1.98 1.98

Nigerian Breweries PLC Nigeria 49,758,814 6,083,468 0.2 0.2

Nihon Trim Co Ltd Japan 21,561,826 2,636,130 0.67 0.67

Nikon Corp Japan 542,127,386 66,280,008 0.82 0.82

Nintendo Co Ltd Japan 4,044,318,584 494,454,765 0.95 0.95

Nippon Beet Sugar Manufacturing Co

LtdJapan 51,757,270 6,327,797 1.7 1.7

Nippon Dry-Chemical Co Ltd Japan 2,824,936 345,374 0.43 0.43

Nippon Flour Mills Co Ltd Japan 136,935,254 16,741,581 1.32 1.32

Nippon Indosari Corpindo Tbk PT Indonesia 44,106,001 5,392,360 0.93 0.93

Nippon Seiki Co Ltd Japan 115,483,306 14,118,886 1.08 1.08

Nippon Suisan Kaisha Ltd Japan 209,623,876 25,628,427 1.57 1.57

Nirvana Daii PCL Thailand 47,731,303 5,835,586 2.87 2.87

Nishikawa Rubber Co Ltd Japan 11,115,609 1,358,984 0.33 0.33

Nissan Motor Co Ltd Japan 1,906,839,577 233,128,498 0.55 0.55

Nissan Shatai Co Ltd Japan 98,634,202 12,058,929 0.75 0.75

Nisshinbo Holdings Inc Japan 219,353,998 26,818,023 1.11 1.11

Nisshin Oillio Group Ltd/The Japan 128,913,414 15,760,838 1.5 1.5

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201758

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nisshin Seifun Group Inc Japan 147,299,175 18,008,665 0.29 0.29

Nissin Foods Holdings Co Ltd Japan 194,149,882 23,736,591 0.28 0.28

Nissin Kogyo Co Ltd Japan 108,987,029 13,324,657 1.03 1.03

NIKE IncUnited

States5,483,424,094 670,398,515 0.66 0.66

Nobia AB Sweden 305,888,079 37,397,602 2.52 2.52

Noevir Holdings Co Ltd Japan 122,190,555 14,938,908 0.59 0.59

Nokian Renkaat OYJ Finland 995,636,607 121,725,639 1.95 1.95

NongShim Co Ltd South Korea 136,529,381 16,691,960 0.83 0.83

Noritake Co Ltd/Nagoya Japan Japan 87,894,066 10,745,850 1.34 1.34

Noritsu Koki Co Ltd Japan 62,947,956 7,695,961 0.97 0.97

Norma Group SE Germany 449,439,583 54,948,081 2.57 2.57

NOK Corp Japan 288,562,821 35,279,432 0.87 0.87

NSK Ltd Japan 878,259,225 107,375,186 1.24 1.24

NTPM Holdings Bhd Malaysia 14,597,172 1,784,637 1.01 1.01

Nutrisystem IncUnited

States58,096,623 7,102,841 0.45 0.45

Nu Skin Enterprises IncUnited

States516,724,657 63,174,293 1.76 1.76

NUTRIBIOTECH Co Ltd South Korea 1,889,414 230,998 0.05 0.05

NVH Korea Inc South Korea 7,013,705 857,489 0.98 0.98

NVR IncUnited

States1,099,189,109 134,385,875 1.02 1.02

Obour Land For Food Industries Egypt 70,274,068 8,591,645 3.66 3.66

Oceana Group Ltd South Africa 100,386,434 12,273,155 1.32 1.32

Odelic Co Ltd Japan 20,946,106 2,560,852 0.99 0.99

Oenon Holdings Inc Japan 6,444,950 787,954 0.37 0.37

Ohashi Technica Inc Japan 11,832,023 1,446,573 0.56 0.56

Okamura Corp Japan 300,663,706 36,758,875 2.24 2.24

Olam International Ltd Singapore 109,701,982 13,412,066 0.28 0.28

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201759

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Oldtown Bhd Malaysia 84,413,895 10,320,367 2.92 2.92

Olympic Industries Ltd Bangladesh 122,774,634 15,010,317 2.17 2.17

Ontex Group NV Belgium 359,230,297 43,919,174 1.61 1.61

Onward Holdings Co Ltd Japan 124,794,877 15,257,310 1.05 1.05

Oppein Home Group Inc China 45,565,017 5,570,738 0.07 0.07

Opple Lighting Co Ltd China 112,701,492 13,778,783 0.36 0.36

Orchestra-Premaman SA France 7,354,793 899,190 1.17 1.17

Oriental Food Industries Holdings BHD Malaysia 10,111,997 1,236,284 1.52 1.52

Oriental Weavers Egypt 38,397,814 4,694,482 1.12 1.12

Oriflame Holding AG Sweden 287,594,559 35,161,053 1.53 1.53

Origin Enterprises PLC Ireland 192,732,626 23,563,318 2.46 2.46

Orion Corp/Republic of Korea South Korea 129,918,005 15,883,659 0.41 0.41

Orion Holdings Corp South Korea 249,757,165 30,535,087 1.96 1.96

Orior AG Switzerland 23,919,178 2,924,337 0.62 0.62

OR PJSC Russia 55,842,707 6,827,279 2.87 2.87

OSRAM Licht AG Germany 1,631,900,788 199,514,728 2.12 2.12

Ottogi Corp South Korea 156,465,157 19,129,290 0.74 0.74

Oulmes Morocco 41,933,271 5,126,724 1.43 1.43

Ovostar Union NV Ukraine 30,209,832 3,693,427 2.43 2.43

OVS SpA Italy 480,083,711 58,694,604 3.88 3.88

Oxford Industries IncUnited

States190,392,734 23,277,245 1.84 1.84

O Luxe Holdings Ltd Hong Kong 123,142,571 15,055,300 1.31 1.31

Pacific Andes Resources Development

LtdChina 92,036 11,252 0.17 0.17

Pacific Industrial Co Ltd Japan 220,812,442 26,996,331 2.84 2.84

Pacific Textiles Holdings Ltd Hong Kong 87,322,222 10,675,937 0.7 0.7

Padini Holdings Bhd Malaysia 19,261,793 2,354,930 0.27 0.27

Page Industries Ltd India 31,284,212 3,824,780 0.09 0.09

Panasonic Corp Japan 2,803,471,481 342,749,911 0.95 0.95

Pandora A/S Denmark 2,259,992,032 276,304,600 2.25 2.25

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201760

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Pan Brothers Tbk PT Indonesia 56,443,048 6,900,677 2.7 2.7

Parag Milk Foods Ltd India 85,454,141 10,447,547 2.66 2.66

Parmalat SpA Italy 12,869,048 1,573,358 0.02 0.02

PALTAC CORPORATION Japan 187,966,105 22,980,568 0.79 0.79

PAS Group Ltd/The Australia 3,853,280 471,099 1.05 1.05

PepsiCo IncUnited

States12,399,391,244 1,515,938,460 0.89 0.89

Pernod Ricard SA France 4,354,044,889 532,321,626 1.09 1.27

Persimmon PLCUnited

Kingdom2,255,093,395 275,705,697 2.41 2.41

Pesquera Exalmar SAA Peru 20,464,510 2,501,973 2.61 2.61

Peugeot SA France 897,017,559 109,668,563 0.48 0.6

Phibro Animal Health CorpUnited

States9,078,167 1,109,888 0.01 0.08

Photo-Me International PLCUnited

Kingdom203,588,929 24,890,600 2.65 2.65

Piaggio & C SpA Italy 110,965,902 13,566,592 1.37 1.37

Pieno Zvaigzdes Lithuania 5,737,874 701,507 1.02 1.02

Pigeon Corp Japan 520,781,052 63,670,225 1.37 1.37

Pilgrim's Pride CorpUnited

States311,744,997 38,113,664 0.49 0.49

Pilot Corp Japan 134,691,709 16,467,288 0.73 0.73

Pinar SUT Mamulleri Sanayii AS Turkey 24,333,302 2,974,968 2.01 2.01

Pinnacle Foods IncUnited

States949,558,410 116,092,160 1.64 1.64

Piolax Inc Japan 138,208,140 16,897,203 1.45 1.45

Pioneer Corp Japan 33,781,608 4,130,109 0.53 0.53

Pioneer Foods Group Ltd South Africa 180,853,278 22,110,960 0.86 0.86

Pirelli & C SpA Italy 1,677,015,476 205,030,409 2.36 2.36

Podravka Prehrambena Ind DD Croatia 6,305,204 770,869 0.25 0.25

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201761

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Poh Huat Resources Holdings BHD Malaysia 20,795,554 2,542,446 2.62 2.62

Polaris Industries IncUnited

States567,709,202 69,407,618 0.9 0.9

Pola Orbis Holdings Inc Japan 434,465,982 53,117,422 0.66 0.66

Pool CorpUnited

States296,506,824 36,250,659 0.7 0.7

Porsche Automobil Holding SE Germany 1,809,499,281 221,227,760 0.86

Portmeirion Group PLCUnited

Kingdom271,733 33,222 0.02 0.02

Post Holdings IncUnited

States236,825,300 28,954,049 0.55 0.55

Pou Chen Corp Taiwan 389,919,917 47,671,260 1.25 1.25

Power Root Bhd Malaysia 40,900,178 5,000,419 3.33 3.33

Premier Foods PLCUnited

Kingdom79,669,101 9,740,273 2.01 2.01

Press Kogyo Co Ltd Japan 166,627,840 20,371,770 2.95 2.95

Prima Meat Packers Ltd Japan 209,144,558 25,569,826 1.38 1.38

Procter & Gamble Co/TheUnited

States16,483,353,760 2,015,240,057 0.86 0.86

Produce Investments PLCUnited

Kingdom9,031,608 1,104,196 1.76 1.76

PRADA SpA Hong Kong 250,124,413 30,579,987 0.33 0.33

PulteGroup IncUnited

States739,637,340 90,427,398 0.93 0.93

Puma SE Germany 280,478,597 34,291,062 0.52 0.52

PVH CorpUnited

States1,279,666,023 156,450,821 1.48 1.48

PZ Cussons PLCUnited

Kingdom50,058,311 6,120,084 0.33 0.33

QAF Ltd Singapore 10,898,785 1,332,476 0.28 0.28

Qingdao Haier Co Ltd China 114,625,082 14,013,960 0.08 0.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201762

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Qinqin Foodstuffs Group Cayman Co

LtdChina 6,356,671 777,161 0.61 0.61

Radico Khaitan Ltd India 26,563,861 3,247,674 0.53 0.53

Raisio Oyj Finland 141,919,359 17,350,934 0.48 2.28

Rajesh Exports Ltd India 67,750,570 8,283,124 0.22 0.22

Ralph Lauren CorpUnited

States732,803,449 89,591,893 0.27 1.06

Rapala VMC OYJ Finland 9,066,169 1,108,422 0.71 0.71

Rassini SAB de CV Mexico 125,578,943 15,353,169 2.75 2.75

Raymond Ltd India 139,575,122 17,064,329 1.68 1.68

RCL Foods Ltd/South Africa South Africa 61,530,845 7,522,706 0.65 0.65

Real Nutriceutical Group Ltd China 12,799,182 1,564,816 2.74 2.74

Reckitt Benckiser Group PLCUnited

Kingdom13,005,605,733 1,590,053,700 2.41 2.41

Redrow PLCUnited

Kingdom669,694,180 81,876,210 2.5 2.5

Refresco Group NV Netherlands 629,927,860 77,014,416 3.8 3.8

Regal Corp Japan 4,009,624 490,213 0.57 0.57

Remy Cointreau SA France 425,586,637 52,031,841 0.49 0.75

Renault SA France 4,543,286,783 555,458,170 1.36 1.86

REA Holdings PLCUnited

Kingdom6,669 815 0

Rheinmetall AG Germany 1,285,606,831 157,177,139 2.84 2.84

Rhythm Watch Co Ltd Japan 35,730,023 4,368,321 2.31 2.31

Ridley Corp Ltd Australia 7,187,660 878,757 0.26 0.26

Riken Corp Japan 29,276,818 3,579,357 0.59 0.59

Riken Vitamin Co Ltd Japan 26,830,809 3,280,311 0.4 0.4

Rinnai Corp Japan 390,225,778 47,708,654 1.02 1.02

Rock Field Co Ltd Japan 77,803,914 9,512,237 1.96 1.96

Rokko Butter Co Ltd Japan 41,646,287 5,091,638 0.98 0.98

Roots Corp Canada 18,392,848 2,248,693 0.6 0.6

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201763

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ros Agro PLC Russia 195,178,361 23,862,332 1.77 1.77

Royal Unibrew A/S Denmark 852,645,345 104,243,656 3.24 3.24

Ruentex Industries Ltd Taiwan 67,112,035 8,205,057 0.51 0.51

Ryobi Ltd Japan 92,753,028 11,339,902 1.22 1.22

Safilo Group SpA Italy 39,488,282 4,827,802 1.35 1.35

Saga Furs Oyj Finland 942,208 115,193 0.05 0.2

Saigon Beer Alcohol Beverage Corp Vietnam 58,529,689 7,155,787 0.1 0.1

Sakata Seed Corp Japan 149,359,429 18,260,550 1.09 1.09

Salvatore Ferragamo SpA Italy 217,756,125 26,622,669 0.59 0.59

Samchuly Bicycle Co Ltd South Korea 2,486,371 303,982 0.27 0.27

Sampo Corp Taiwan 29,022,285 3,548,239 1.6 1.6

Samsonite International SA Hong Kong 607,181,786 74,233,501 1.14 1.14

Samsung Electronics Co Ltd South Korea 30,401,892,489 3,716,908,127 1.07 1.09

Samyang Corp South Korea 59,868,452 7,319,463 0.79 0.79

Samyang Holdings Corp South Korea 57,231,252 6,997,042 0.72 0.69

Sanderson Farms IncUnited

States385,340,376 47,111,369 1.49 1.49

Sanford Ltd/NZNew

Zealand39,500,584 4,829,306 0.87 0.87

Sangetsu Corp Japan 97,482,224 11,918,089 0.96 0.96

Sankyo Seiko Co Ltd Japan 22,800,353 2,787,551 1.07 1.07

Sanoh Industrial Co Ltd Japan 61,347,519 7,500,293 2.52 2.52

Sanrio Co Ltd Japan 21,225,649 2,595,029 0.17 0.17

Sanyang Motor Co Ltd Taiwan 49,212,874 6,016,722 0.95 0.95

Sanyo Shokai Ltd Japan 53,022,009 6,482,423 2.6 2.6

Sao Martinho SA Brazil 65,650,967 8,026,428 0.38 0.38

Sapporo Holdings Ltd Japan 101,827,753 12,449,370 0.52 0.52

Saputo Inc Canada 714,921,176 87,405,622 0.63 0.63

Sarantis SA Greece 4,607,886 563,356 0.11 0.11

Saudia Dairy & Foodstuff CoSaudi

Arabia240,569,809 29,411,849 2.58

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201764

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Saudi Co For Hardware LLCSaudi

Arabia87,673,592 10,718,895 1.52

Savola Group/TheSaudi

Arabia130,383,870 15,940,615 0.29

SAF-Holland SA Germany 194,052,268 23,724,656 2.43 2.43

SAIC Motor Corp Ltd China 528,283,635 64,587,484 0.11 0.11

Scales Corp LtdNew

Zealand29,238,087 3,574,622 0.75 0.75

Scandi Standard AB Sweden 1,287,767 157,441 0.03 0.03

Schaeffler AG Germany 441,872,290 54,022,910 0.46

Schloss Wachenheim AG Germany 564,466 69,011 0.04 0.04

Schulz SA Brazil 8,131,578 994,159 0.75

Sea Harvest Group Ltd South Africa 59,301,791 7,250,184 2.86 2.86

Sebang Global Battery Co Ltd South Korea 38,683,980 4,729,469 1.01 1.01

Sega Sammy Holdings Inc Japan 643,646,949 78,691,699 2.38 2.38

Seiko Holdings Corp Japan 98,620,139 12,057,210 1 1

Seiren Co Ltd Japan 341,470,340 41,747,858 3.3 3.3

Sejong Industrial Co Ltd South Korea 1,614,634 197,404 0.14 0.14

Sekisui Chemical Co Ltd Japan 1,279,726,448 156,458,209 1.56 1.56

Sekisui House Ltd Japan 793,574,465 97,021,703 0.78 0.78

Select Harvests Ltd Australia 53,411,343 6,530,023 1.86 1.86

Seoyon Co Ltd South Korea 22,756,863 2,782,234 1.72 1.72

Seoyon E-Hwa Co Ltd South Korea 23,596,512 2,884,888 1.14 1.14

Sewon Precision Industry Co Ltd South Korea 16,419,090 2,007,383 1.44 1.44

SEB SA France 1,052,620,365 128,692,422 0.93 1.38

Shaklee Global Group Inc Japan 3,695,774 451,842 0.19 0.19

Shanghai Haixin Group Co China 9,150,362 1,118,715 0.14 0.14

Shanghai Huayi Group Corp Ltd China 25,075,010 3,065,648 0.16 0.16

Shanghai Jahwa United Co Ltd China 65,332,935 7,987,546 0.21 0.21

Shanghai Phoenix Enterprise Group Co

LtdChina 9,720,041 1,188,363 0.34 0.34

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201765

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sharp Corp/Japan Japan 528,722,107 64,641,091 0.38 0.38

Shenguan Holdings Group Ltd China 10,791,033 1,319,302 0.86 0.86

Shenzhou International Group Holdings

LtdChina 1,087,972,302 133,014,518 0.93 0.93

Shimano Inc Japan 681,530,434 83,323,300 0.64 0.64

Shinkong Synthetic Fibers Corp Taiwan 64,978,041 7,944,157 1.45 1.45

Shinkong Textile Co Ltd Taiwan 34,784,981 4,252,781 0.94 0.94

Shiseido Co Ltd Japan 788,201,064 96,364,756 0.5 0.5

Shoei Co Ltd Japan 14,461,875 1,768,096 0.28 0.28

Shoei Foods Corp Japan 7,539,269 921,744 0.13 0.13

Showa Corp Japan 134,764,666 16,476,207 1.74 1.74

Showa Sangyo Co Ltd Japan 95,523,962 11,678,674 1.36 1.36

Shree Renuka Sugars Ltd India 13,734,458 1,679,163 0.69 0.69

Silvano Fashion Group AS Estonia 24,433,835 2,987,259 2.4 2.4

Silver Base Group Holdings Ltd Hong Kong 19,080,784 2,332,800 0.98 0.98

Sime Darby Plantation Bhd Malaysia 166,750,426 20,386,758 0.2 0.2

Singer Bangladesh Ltd Bangladesh 22,974,212 2,808,807 1.56 1.56

Sipef SA Belgium 79,100,531 9,670,760 1.21 1.21

Skechers U.S.A. IncUnited

States393,696,424 48,132,972 0.34 0.8

Skyworth Digital Holdings Ltd China 71,003,758 8,680,856 0.66 0.66

SKCKOLONPI Inc South Korea 192,314,177 23,512,159 1.81 1.81

Sleep Number CorpUnited

States106,644,036 13,038,204 0.87 0.87

SL Corp South Korea 90,844,250 11,106,537 1.43 1.43

SMCP SA France 291,810,336 35,676,470 1.97 2.11

Snap-on IncUnited

States430,157,476 52,590,668 0.53 0.53

Snow Peak Inc Japan 41,643,455 5,091,291 2.75 2.75

Snyder's-Lance IncUnited

States279,914,271 34,222,068 0.7 0.7

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201766

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Societe BIC SA France 833,168,952 101,862,489 1.36 1.99

Societe Des Brasseries du Maroc Morocco 44,442,060 5,433,446 0.65 0.65

Societe D'Articles Hygieniques SA Tunisia 60,594,317 7,408,207 2.33 2.33

SodaStream International LtdUnited

States21,202,838 2,592,240 0.17 0.17

Soft-World International Corp Taiwan 58,343,662 7,133,044 2.38 2.38

Sogefi SpA Italy 107,940,063 13,196,655 2.28 2.28

Sollers PJSC Russia 90,534,079 11,068,615 2.99 2.99

Somboon Advance Technology PCL Thailand 51,750,338 6,326,950 2.22 2.22

Sony Corp Japan 6,413,559,126 784,115,990 1.37 1.37

Spectrum Brands Holdings IncUnited

States236,546,458 28,919,958 0.45 0.45

Spigen Korea Co Ltd South Korea 1,903,628 232,736 0.09 0.09

SPC Samlip Co Ltd South Korea 130,221,368 15,920,748 1.26 1.26

Ssangyong Motor Co South Korea 33,431,092 4,087,255 0.62 0.62

Standard Foods Corp Taiwan 100,127,085 12,241,448 0.54 0.54

Stanley Black & Decker IncUnited

States1,968,904,214 240,716,465 0.93 0.93

Stanley Electric Co Ltd Japan 703,200,930 85,972,715 1.2 1.2

Starzen Co Ltd Japan 64,699,419 7,910,093 1.71 1.71

Steelcase IncUnited

States328,849,177 40,204,806 0.68 2.28

Steinhoff International Holdings NV South Africa 115,654,430 14,139,807 0.89 0.89

Stella International Holdings Ltd Hong Kong 84,480,957 10,328,566 0.86 0.86

Steven Madden LtdUnited

States379,675,006 46,418,726 1.68 1.68

Stoneridge IncUnited

States65,269,649 7,979,809 1.24 1.24

Strauss Group Ltd Israel 48,411,383 5,918,732 0.24 0.24

Subaru Corp Japan 2,135,482,285 261,082,150 1.07 1.07

Suedzucker AG Germany 453,903,320 55,493,813 1.3 1.3

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201767

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sumitomo Electric Industries Ltd Japan 1,350,700,427 165,135,424 1.23 1.23

Sumitomo Forestry Co Ltd Japan 248,083,921 30,330,518 0.93 0.93

Sumitomo Riko Co Ltd Japan 44,054,392 5,386,050 0.48 0.48

Sumitomo Rubber Industries Ltd Japan 825,358,241 100,907,559 2.06 2.06

Sundram Fasteners Ltd India 119,997,544 14,670,792 0.76 0.76

Sungwoo Hitech Co Ltd South Korea 60,346,580 7,377,919 2.02 2.02

Suntory Beverage & Food Ltd Japan 853,364,959 104,331,635 0.76 0.76

Suofeiya Home Collection Co Ltd China 89,129,489 10,896,891 0.21 0.21

Superb Summit International Group Ltd Hong Kong 2,775,683 339,352 0.44 0.44

SuperGroup PLCUnited

Kingdom415,872,813 50,844,237 2.33 2.33

Superior Industries International IncUnited

States52,635,048 6,435,114 1.74 1.74

Suzuki Motor Corp Japan 2,606,760,056 318,700,148 1.12 1.12

Svenska Cellulosa AB SCA Sweden 4,326,923,534 529,005,793 9.57 7.15

Swatch Group AG/The Switzerland 2,241,321,671 274,021,979 1.27 1.27

Synlait Milk LtdNew

Zealand8,009,524 979,237 0.11 0.11

SYF Resources Bhd Malaysia 7,249,542 886,322 1.49 1.49

S Foods Inc Japan 109,965,313 13,444,261 0.92 0.92

S&T Dynamics Co Ltd South Korea 26,847,886 3,282,398 1.45 1.45

S&T Holdings Co Ltd South Korea 8,480,021 1,036,760 0.43 0.43

S&T Motiv Co Ltd South Korea 96,128,044 11,752,528 1.84 1.84

Tachi-S Co Ltd Japan 98,517,788 12,044,697 1.8 1.8

Taiho Kogyo Co Ltd Japan 36,736,346 4,491,353 1.04 1.04

Tainan Spinning Co Ltd Taiwan 53,502,886 6,541,215 0.86 0.86

Taiwan Paiho Ltd Taiwan 129,933,217 15,885,519 1.31 1.31

Taiwan Sanyo Electric Co Ltd Taiwan 3,907,725 477,755 0.23 0.23

Taiwan TEA Corp Taiwan 10,836,104 1,324,812 0.33 0.33

Taiyen Biotech Co Ltd Taiwan 23,826,727 2,913,034 1.55 1.55

Takara Holdings Inc Japan 82,433,411 10,078,235 0.43 0.43

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201768

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Takara Standard Co Ltd Japan 80,940,348 9,895,694 0.83 0.83

Take-Two Interactive Software IncUnited

States828,527,209 101,294,994 0.81 0.81

Takihyo Co Ltd Japan 7,559,462 924,213 0.46 0.46

Tamron Co Ltd Japan 105,127,814 12,852,832 2.3 2.3

Tapestry IncUnited

States988,569,092 120,861,571 0.96 0.96

Tassal Group Ltd Australia 63,190,569 7,725,622 1.53 1.53

Tata Global Beverages Ltd India 508,123,607 62,122,737 1.99 1.99

Tate & Lyle PLC United

Kingdom

958,102,113 117,136,706 2.65 2.65

Taylor Morrison Home CorpUnited

States216,235,246 26,436,727 0.9 0.9

Taylor Wimpey PLCUnited

Kingdom1,555,334,140 190,153,758 2.08 2.08

TBK Co Ltd Japan 3,313,591 405,117 0.29 0.29

TCI Co Ltd Taiwan 12,621,461 1,543,089 0.18 0.18

TCL Multimedia Technology Holdings

LtdChina 16,012,370 1,957,658 0.17 0.17

Technogym SpA Italy 420,131,911 51,364,951 2.64 2.64

Techtronic Industries Co Ltd Hong Kong 1,045,618,495 127,836,380 1.07 1.07

Teco Electric and Machinery Co Ltd Taiwan 195,610,382 23,915,150 1.25 1.25

Ted Baker PLCUnited

Kingdom110,939,347 13,563,345 0.83 0.83

Teejay Lanka PLC Sri Lanka 37,935,405 4,637,949 2.98 2.98

Teikoku Sen-I Co Ltd Japan 34,982,255 4,276,899 0.78 0.78

Tempur Sealy International IncUnited

States52,189,577 6,380,651 0.19 0.19

Tenma Corp Japan 57,582,535 7,039,989 1.29 1.29

Tenneco IncUnited

States723,545,053 88,459,970 2.93 2.93

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201769

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Tesla IncUnited

States2,065,544,556 252,531,626 0.48 0.48

Test Rite International Co Ltd Taiwan 32,224,590 3,939,750 1 1

Texhong Textile Group Ltd China 62,798,361 7,677,671 0.65 0.65

Texwinca Holdings Ltd Hong Kong 63,044,973 7,707,822 1.01 1.01

TER Beke SA Belgium 6,157,359 752,793 0.21 0.21

Thai Beverage PCL Thailand 173,552,538 21,218,378 0.12 0.12

Thai Stanley Electric PCL Thailand 47,169,977 5,766,959 1.1 1.1

Thai Vegetable Oil PCL Thailand 33,515,212 4,097,540 0.56 0.56

Thor Industries IncUnited

States628,489,502 76,838,563 0.97 0.97

Thule Group AB Sweden 522,787,137 63,915,487 2.77 2.77

Tianneng Power International Ltd China 176,480,349 21,576,329 1.84 1.84

Tibet Water Resources Ltd China 83,404,070 10,196,907 0.87 0.87

Tiger Brands Ltd South Africa 1,314,149,512 160,666,742 2.25 2.25

Tingyi Cayman Islands Holding Corp Hong Kong 556,823,820 68,076,781 0.62 0.62

Titan Co Ltd India 93,477,455 11,428,470 0.1 0.1

TI Fluid Systems PLCUnited

Kingdom285,205,130 34,868,924 1.99 1.99

Tod's SpA Italy 199,394,160 24,377,751 1.01 1.01

Tofas Turk Otomobil Fabrikasi AS Turkey 218,520,212 26,716,085 0.61 0.61

Tokai Rika Co Ltd Japan 132,528,992 16,202,876 0.82 0.82

Token Corp Japan 179,782,674 21,980,069 1.38 1.38

Toll Brothers IncUnited

States375,570,135 45,916,868 0.62 0.62

Toly Bread Co Ltd China 117,124,155 14,319,494 0.51 0.51

Tomei Consolidated Bhd Malaysia 4,854,888 593,554 2.42 2.42

Tomy Co Ltd Japan 238,345,919 29,139,958 2.23 2.23

Tongwei Co Ltd China 21,294,674 2,603,468 0.04 0.04

Tong Yang Industry Co Ltd Taiwan 142,667,881 17,442,447 1.52 1.52

Tonly Electronics Holdings Ltd China 21,298,599 2,603,948 0.88 0.88

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201770

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Topkey Corp Taiwan 12,390,471 1,514,848 0.55 0.55

Topre Corp Japan 260,147,106 31,805,352 2.08 2.08

Toung Loong Textile Manufacturing Taiwan 6,255,924 764,844 0.26 0.26

Toya SA Poland 50,987,023 6,233,628 2.56 2.56

Toyobo Co Ltd Japan 186,901,773 22,850,443 1.41 1.41

Toyoda Gosei Co Ltd Japan 243,307,491 29,746,556 0.9 0.9

Toyota Boshoku Corp Japan 439,239,404 53,701,016 1.37 1.37

Toyota Industries Corp Japan 1,025,196,428 125,339,596 0.6 0.6

Toyota Motor Corp Japan 16,323,937,474 1,995,749,965 0.96 0.96

Toyo Suisan Kaisha Ltd Japan 269,898,938 32,997,602 0.7 0.7

Toyo Tire & Rubber Co Ltd Japan 406,996,777 49,759,061 1.89 1.89

TPR Co Ltd Japan 170,444,689 20,838,415 1.74 1.74

Treasury Wine Estates Ltd Australia 1,624,344,495 198,590,902 2.19 2.19

TreeHouse Foods Inc United

States298,589,935 36,505,338 1.29 1.29

Trigano SA France 642,334,863 78,531,285 1.45 2.3

Triveni Engineering & Industries Ltd India 50,683,072 6,196,467 1.98 1.98

TRI Pointe Group IncUnited

States10,197,003 1,246,676 0.05 0.05

Tsann Kuen Enterprise Co Ltd Taiwan 13,595,185 1,662,135 1.23 1.23

Tsingtao Brewery Co Ltd China 271,476,582 33,190,484 0.45 0.45

TSI Holdings Co Ltd Japan 125,579,754 15,353,268 1.8 1.8

TS Tech Co Ltd Japan 504,642,465 61,697,135 2.21 2.21

Tung Thih Electronic Co Ltd Taiwan 10,447,887 1,277,349 0.26 0.26

Tupperware Brands CorpUnited

States268,692,445 32,850,098 1.03 1.03

Turkiye Sise ve Cam Fabrikalari AS Turkey 293,749,563 35,913,558 1.29 1.29

Turk Tuborg Bira ve Malt Sanayii AS Turkey 14,096,845 1,723,468 0.2 0.2

TVS Motor Co Ltd India 34,629,927 4,233,824 0.07 0.07

Tyson Foods IncUnited

States1,435,862,608 175,547,276 0.21 0.54

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201771

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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TYC Brother Industrial Co Ltd Taiwan 59,510,655 7,275,719 2.08 2.08

T RAD Co Ltd Japan 64,841,369 7,927,448 2.67 2.67

Ubisoft Entertainment SA France 1,014,143,130 123,988,230 1.24 1.44

Uchida Yoko Co Ltd Japan 64,152,012 7,843,167 2.68 2.68

Ultrajaya Milk Industry & Trading Co Tbk

PTIndonesia 26,872,892 3,285,456 0.3 0.3

UMW Holdings Bhd Malaysia 993,163 121,423 0.01 0.01

Under Armour IncUnited

States125,518,914 15,345,830 0.04 0.26

Unicharm Corp Japan 1,150,466,508 140,655,004 0.87 0.87

Unick Corp South Korea 6,125,379 748,883 0.64 0.64

Unilever Indonesia Tbk PT Indonesia 397,013,451 48,538,509 0.15 0.15

Unilever NV Netherlands 13,864,233,408 1,695,028,750 1.75 1.75

Unilever PLCUnited

Kingdom10,858,636,893 1,327,567,214 1.93 1.93

Unipres Corp Japan 201,789,932 24,670,656 1.91 1.91

United Breweries Ltd India 37,991,453 4,644,801 0.1 0.1

United Spirits Ltd India 70,188,475 8,581,180 0.1 0.1

Unitika Ltd Japan 95,139,670 11,631,691 2.74 2.74

Univanich Palm Oil PCL Thailand 4,006,539 489,836 0.21 0.21

Universal Robina Corp Philippines 343,596,062 42,007,747 0.63 0.63

Uni-President China Holdings Ltd Hong Kong 183,559,302 22,441,796 0.62 0.62

Uni-President Enterprises Corp Taiwan 1,264,465,474 154,592,415 1.23 1.23

Upper Egypt Flour Mills Egypt 7,676,162 938,481 1.64 1.64

Urbi Desarrollos Urbanos SAB de CV Mexico 23,284 2,847 0.01 0.01

USANA Health Sciences IncUnited

States225,321,762 27,547,637 1.55 1.55

US Foods Holding CorpUnited

States836,836,956 102,310,936 1.49 1.49

U-Shin Ltd Japan 22,830,464 2,791,232 1.28 1.28

Valeo SA France 5,944,171,750 726,729,110 3.97 4.06

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201772

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Van de Velde NV Belgium 72,602,074 8,876,264 1.25 1.25

Varta AG Germany 12,546,321 1,533,902 0.16 0.16

VBG Group AB Sweden 30,695,451 3,752,798 0.48 0.89

Very Good Tour Co Ltd South Korea 633,151 77,408 0.05 0.05

VF CorpUnited

States1,946,289,321 237,951,588 0.81 0.81

Vietnam Dairy Products JSC Vietnam 474,470,910 58,008,388 0.44 0.44

Vilmorin & Cie SA France 338,012,197 41,325,068 1.08 1.87

Vinda International Holdings Ltd China 8,760,912 1,071,101 0.04 0.04

Vinh Hoan Corp Vietnam 43,770,514 5,351,344 2.47 2.47

Viscofan SA Spain 783,563,667 95,797,792 3.11 3.11

Vista Outdoor IncUnited

States51,532,725 6,300,345 0.75 0.75

Visteon CorpUnited

States556,952,826 68,092,553 1.75 1.75

Vitasoy International Holdings Ltd Hong Kong 160,881,231 19,669,195 0.73 0.73

VIRO Tvornica Secera Croatia 264,472 32,334 0.06 0.06

Volkswagen AG Germany 11,091,008,050 1,355,976,704 0.19 1.32

Voltabox AG Germany 107,810,056 13,180,761 2.96 2.96

Voltage Inc Japan 2,440,409 298,362 0.61 0.61

Wacoal Holdings Corp Japan 292,218,797 35,726,408 1.58 1.58

Want Want China Holdings Ltd Hong Kong 582,626,566 71,231,402 0.68 0.68

Warabeya Nichiyo Holdings Co Ltd Japan 83,375,129 10,193,369 2.04 2.04

Wawel SA Poland 140,841,157 17,219,114 3.87 3.87

WABCO Holdings IncUnited

States469,840,942 57,442,333 0.75 0.75

WD-40 CoUnited

States45,773,835 5,596,268 0.34 0.34

Webster Ltd Australia 8,228,811 1,006,047 0.26 0.26

Webzen Inc South Korea 87,599,083 10,709,785 0.83 0.83

Weifu High-Technology Group Co Ltd China 22,170,764 2,710,578 0.13 0.13

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201773

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Weiqiao Textile Co China 41,701,533 5,098,392 0.75 0.75

Wei Chuan Foods Corp Taiwan 34,141,148 4,174,066 1.16 1.16

Welbilt IncUnited

States126,761,865 15,497,792 0.47 0.47

Wellard Ltd Australia 6,640,023 811,803 1.35 1.35

Welspun India Ltd India 13,914,764 1,701,207 0.15 0.15

WeMade Entertainment Co Ltd South Korea 12,154,047 1,485,943 0.19 0.19

Wessanen Netherlands 116,984,465 14,302,416 0.95 0.95

Whirlpool CorpUnited

States891,019,131 108,935,200 0.9 0.9

Whirlpool of India Ltd India 30,961,903 3,785,375 0.12 0.12

WH Group Ltd Hong Kong 1,291,711,598 157,923,502 0.95 0.95

Winnebago Industries IncUnited

States325,513,873 39,797,034 2.26 2.26

Wolverine World Wide IncUnited

States414,764,552 50,708,742 1.66 1.66

Wuliangye Yibin Co Ltd China 1,022,638,536 125,026,871 0.27 0.27

Wuxi Little Swan Co Ltd China 342,424,375 41,864,497 0.99 0.99

Wynnstay Group PLCUnited

Kingdom12,799,441 1,564,848 1.23 1.23

Xinchen China Power Holdings Ltd Hong Kong 11,823,661 1,445,550 0.8 0.8

Xingda International Holdings Ltd China 68,245,918 8,343,685 1.58 1.58

Xinyi Glass Holdings Ltd Hong Kong 455,691,442 55,712,427 1.07 1.07

XPEC Entertainment Inc Taiwan 640,107 78,259 0.15 0.15

Xtep International Holdings Ltd China 37,505,254 4,585,359 0.53 0.53

Yachiyo Industry Co Ltd Japan 7,922,236 968,565 0.29 0.29

Yakult Honsha Co Ltd Japan 676,174,103 82,668,440 0.62 0.62

Yamada SxL Home Co Ltd Japan 9,812,025 1,199,609 0.81 0.81

Yamaha Corp Japan 366,971,360 44,865,590 0.62 0.62

Yamaha Motor Co Ltd Japan 1,273,082,502 155,645,926 1.36 1.36

Yamazaki Baking Co Ltd Japan 325,406,722 39,783,934 0.93 0.93

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201774

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Yantai Changyu Pioneer Wine Co Ltd China 74,174,489 9,068,507 0.52 0.52

Yashili International Holdings Ltd China 5,934,170 725,506 0.08 0.08

Yatas Yatak ve Yorgan Sanayi ve Ticaret

ASTurkey 55,323,561 6,763,809 2.12 2.12

Yazicilar Holding AS Turkey 39,658,950 4,848,668 0.48 0.48

YA-MAN Ltd Japan 19,610,501 2,397,562 0.24 0.24

YHI International Ltd Singapore 3,470,336 424,280 0.41 0.41

Yokohama Reito Co Ltd Japan 15,468,751 1,891,196 0.34 0.34

Yokohama Rubber Co Ltd/The Japan 380,551,034 46,525,828 1.12 1.12

Yonex Co Ltd Japan 59,092,328 7,224,575 1.2 1.2

Yorozu Corp Japan 85,361,393 10,436,207 1.94 1.94

Youngone Corp South Korea 183,289,759 22,408,842 1.72 1.72

Youngone Holdings Co Ltd South Korea 79,463,508 9,715,137 1.37 1.37

Yuan Longping High-tech Agriculture Co

LtdChina 232,552,942 28,431,714 0.57 0.57

Yue Yuen Industrial Holdings Ltd Hong Kong 414,546,452 50,682,078 0.78 0.78

Yulon Motor Co Ltd Taiwan 121,534,450 14,858,693 1.16 1.16

Yulon Nissan Motor Co Ltd Taiwan 11,133,932 1,361,225 0.05 0.05

Yutaka Giken Co Ltd Japan 3,305,924 404,179 0.11 0.11

zooplus AG Germany 143,554,144 17,550,801 1.36 1.36

Zaklady Tluszczowe Kruszwica SA Poland 39,681,704 4,851,450 1.05 1.05

Zeng Hsing Industrial Co Ltd Taiwan 20,502,178 2,506,578 0.95 0.95

Zhejiang Supor Cookware Co Ltd China 78,161,028 9,555,897 0.19 0.19

Zhejiang Yankon Group Co Ltd China 104,989,253 12,835,892 1.04 1.04

Zhengzhou Yutong Bus Co Ltd China 86,149,903 10,532,610 0.13 0.13

Zhonglu Co Ltd China 6,445,067 787,968 0.16 0.16

Zhongsheng Group Holdings Ltd China 241,093,165 29,475,834 0.57 0.57

Zhou Hei Ya International Holdings Co

LtdChina 404,514,909 49,455,630 1.98 1.98

Zhulian Corp Bhd Malaysia 2,769,568 338,605 0.17 0.17

Zojirushi Corp Japan 51,046,345 6,240,880 0.84 0.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201775

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Zynga IncUnited

States244,775,261 29,926,004 0.28 0.86

CONSUMER SERVICES

58.com Inc China 265,146,959 32,416,630 0.12 0.31

888 Holdings PLCUnited

Kingdom401,290,800 49,061,454 3.58 3.58

Aaron's IncUnited

States393,134,573 48,064,281 1.7 1.7

AA PLCUnited

Kingdom326,850,242 39,960,418 2.85 2.85

Abdullah Al Othaim Markets CoSaudi

Arabia204,717,541 25,028,583 1.69

Abdul Mohsen Al-Hokair Tourism and

Development Co

Saudi

Arabia27,513,169 3,363,735 0.94

Accent Group Ltd Australia 17,584,832 2,149,906 0.62 0.62

Accor SA France 1,509,171,475 184,509,952 1.15 1.23

Ace Hardware Indonesia Tbk PT Indonesia 42,500,406 5,196,062 0.36 0.36

Action Hotels PlcUnited Arab

Emirates7,884,735 963,981 1.72 1.72

Acxiom CorpUnited

States109,948,209 13,442,170 0.62 0.62

Adastria Co Ltd Japan 165,848,790 20,276,524 2.05 2.05

Adler Modemaerkte AG Germany 723,500 88,454 0.07 0.07

Adtalem Global Education IncUnited

States293,475,107 35,880,004 1.41 1.41

Advance Auto Parts IncUnited

States364,022,832 44,505,105 0.6 0.6

Advtech Ltd South Africa 170,029,724 20,787,682 2.81 2.81

ADUX SA France 1,713,614 209,505 1.36 1.36

Aegean Airlines SA Greece 38,792,815 4,742,775 0.67 0.67

Aeon Co Ltd Japan 903,515,658 110,463,014 0.75 0.75

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201776

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Aeon Fantasy Co Ltd Japan 81,122,668 9,917,985 1.14 1.14

Aeon Hokkaido Corp Japan 4,781,293 584,557 0.08 0.08

Aeroflot PJSC Russia 426,363,574 52,126,828 1.95 1.95

Ainsworth Game Technology Ltd Australia 37,392,578 4,571,583 0.82 0.82

Ain Holdings Inc Japan 64,991,160 7,945,761 0.38 0.38

AirAsia Bhd Malaysia 345,923,367 42,292,281 1.53 1.53

AirAsia X Bhd Malaysia 51,143,930 6,252,811 1.85 1.85

Air Arabia PJSCUnited Arab

Emirates59,361,503 7,257,484 0.46 0.46

Air Canada Canada 267,388,999 32,690,739 0.58 0.58

Air China Ltd China 268,846,098 32,868,883 0.19 0.19

Air France-KLM France 709,168,520 86,702,308 1.05 1.24

Air New Zealand LtdNew

Zealand297,691,510 36,395,497 1.43 1.43

Air Partner PLCUnited

Kingdom11,103,021 1,357,445 1.37 1.37

Ajisen China Holdings Ltd China 57,683,706 7,052,358 1.36 1.36

Alaska Air Group IncUnited

States177,552,062 21,707,356 0.24 0.24

Aldrees Petroleum and Transport

Services Co

Saudi

Arabia70,860,388 8,663,327 2.36

Alibaba Group Holding Ltd China 7,066,933,025 863,996,898 0.2 0.2

Alibaba Pictures Group Ltd China 28,685,220 3,507,029 0.1 0.1

Alimentation Couche-Tard Inc Canada 1,525,384,695 186,492,166 0.2 0.63

Allegiant Travel CoUnited

States8,946,352 1,093,773 0.04 0.04

Almacenes Exito SA Colombia 307,710,052 37,620,355 1.51 1.51

Alpen Co Ltd Japan 65,696,370 8,031,979 0.92 0.92

Alsea SAB de CV Mexico 481,635,243 58,884,293 2.15 2.15

Altice USA IncUnited

States241,808,799 29,563,327 0.01 0.19

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201777

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Al Tayyar Travel Group Holding CoSaudi

Arabia145,236,640 17,756,501 1.18

Amazon.com IncUnited

States36,578,642,044 4,472,071,992 0.79 0.79

Ambassador Hotel/The Taiwan 20,621,947 2,521,221 0.88 0.88

American Airlines Group IncUnited

States664,729,190 81,269,195 0.33 0.33

American Eagle Outfitters IncUnited

States324,022,205 39,614,664 1.19 1.19

AmerisourceBergen CorpUnited

States875,420,671 107,028,147 0.53 0.53

Amiyaki Tei Co Ltd Japan 8,019,466 980,453 0.3 0.3

AmRest Holdings SE Poland 36,109,260 4,414,686 0.18 0.18

AMC Entertainment Holdings IncUnited

States11,809,482 1,443,817 0.03 0.07

AMC Networks IncUnited

States288,494,100 35,271,030 0.39 1.05

AMERCOUnited

States8,107,846 991,258 0.01 0.01

Angler Gaming PLC Sweden 16,455,567 2,011,843 2.3 2.3

ANA Holdings Inc Japan 1,144,820,674 139,964,750 0.95 0.95

Aoyama Trading Co Ltd Japan 106,744,109 13,050,439 0.63 0.63

AOKI Holdings Inc Japan 51,210,092 6,260,900 0.47 0.47

AO World PLCUnited

Kingdom17,401,975 2,127,550 0.31 0.31

APG SGA SA Switzerland 223,331,060 27,304,255 1.95 1.95

APN Outdoor Group Ltd Australia 259,223,122 31,692,387 4.93 4.93

AramarkUnited

States768,056,645 93,901,917 0.89 0.89

Arcland Sakamoto Co Ltd Japan 114,618,140 14,013,111 2.09 2.09

Arcland Service Holdings Co Ltd Japan 56,351,255 6,889,454 0.88 0.88

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201778

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Arcos Dorados Holdings IncUnited

States299,309,532 36,593,315 0.67 1.68

Arcs Co Ltd Japan 134,810,932 16,481,864 1.25 1.25

Arena Hospitality Group dd Croatia 22,857,850 2,794,580 0.75 0.75

Aristocrat Leisure Ltd Australia 1,521,841,033 186,058,921 1.57 1.57

Arnoldo Mondadori Editore SpA Italy 178,583,514 21,833,460 3.34 3.34

ARB Corp Ltd Australia 108,355,147 13,247,403 1.14 1.14

Asahi Co Ltd Japan 51,117,792 6,249,615 2.04 2.04

Asante Inc Japan 21,808,550 2,666,294 1.28 1.28

Asatsu-DK Inc Japan 52,786,394 6,453,617 0.48 0.48

Asbury Automotive Group IncUnited

States158,959,974 19,434,304 1.46 1.46

Asiana Airlines Inc South Korea 48,703,321 5,954,424 0.68 0.68

Asian Pay Television Trust Singapore 8,058,074 985,173 0.16 0.16

Asia Aviation PCL Thailand 214,644,869 26,242,289 2.87 2.87

ASOS PLCUnited

Kingdom78,013,839 9,537,902 0.13 0.13

Atacadao Distribuicao Comercio e

Industria LtdaBrazil 311,168,900 38,043,231 0.42 0.42

Atom Corp Japan 21,475,858 2,625,619 0.17 0.17

Atresmedia Corp de Medios de

Comunicacion SASpain 234,432,919 28,661,559 1.22 1.22

ATM Grupa SA Poland 26,091,981 3,189,982 2.35 2.99

Australian Pharmaceutical Industries Ltd Australia 135,185,198 16,527,621 2.55 2.55

Autobacs Seven Co Ltd Japan 177,223,712 21,667,212 1.34 1.34

Autogrill SpA Italy 1,022,854,129 125,053,229 3.56 3.56

Automobile reseau tunisien et services Tunisia 5,280,170 645,549 0.68 0.68

Automotive Holdings Group Ltd Australia 64,304,044 7,861,755 0.83 0.83

AutoNation IncUnited

States29,265,788 3,578,009 0.08 0.08

Autosports Group Ltd Australia 2,137,469 261,325 0.09 0.09

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201779

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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AutoZone IncUnited

States1,407,116,002 172,032,741 0.88 0.88

Auto Hall Morocco 28,353,727 3,466,501 0.73 0.73

Auto Trader Group PLCUnited

Kingdom884,423,828 108,128,864 2.37 2.37

Avex Inc Japan 77,135,625 9,430,532 1.47 1.47

Avianca Holdings SA Colombia 117,688,182 14,388,452 1.46

Avis Budget Group IncUnited

States196,289,248 23,998,148 0.67 0.67

Axel Springer SE Germany 555,932,175 67,967,769 0.81 0.81

Axfood AB Sweden 651,277,990 79,624,663 1.96 1.96

Axial Retailing Inc Japan 99,715,894 12,191,176 1.38 1.38

Azul SA Brazil 353,646,409 43,236,493 0.43 0.43

bet-at-home.com AG Germany 74,264,411 9,079,500 1.04 1.04

boohoo.com plcUnited

Kingdom244,030,532 29,834,954 1.02 1.02

B2W Cia Digital Brazil 62,785,566 7,676,107 0.27 0.27

Baby Bunting Group Ltd Australia 1,580,495 193,230 0.12 0.12

Bangkok Airways PCL Thailand 409,087,243 50,014,640 4.54 4.54

Barnes & Noble Education IncUnited

States40,884,948 4,998,557 1.29 1.29

Barnes & Noble IncUnited

States67,295,105 8,227,439 1.69 1.69

Basic-Fit NV Netherlands 57,144,837 6,986,477 0.54 0.54

Beacon Roofing Supply IncUnited

States333,047,529 40,718,092 0.94 0.94

Bed Bath & Beyond IncUnited

States415,111,147 50,751,117 1.62 1.62

Beijing Gas Blue Sky Holdings Ltd China 7,133,434 872,127 0.14 0.14

Belc Co Ltd Japan 70,303,490 8,595,242 0.68 0.68

Belluna Co Ltd Japan 118,689,343 14,510,853 1.21 1.21

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201780

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Bell-Park Co Ltd Japan 4,412,456 539,463 0.27 0.27

Benesse Holdings Inc Japan 516,635,565 63,163,401 1.75 1.75

Berjaya Food Bhd Malaysia 58,913,610 7,202,725 4.19 4.19

Berjaya Sports Toto Bhd Malaysia 34,873,405 4,263,591 0.57 0.57

Bermaz Auto Bhd Malaysia 125,510,236 15,344,769 2.44 2.44

Best Buy Co IncUnited

States1,979,148,652 241,968,940 1.21 1.21

Beter Bed Holding NV Netherlands 17,562,442 2,147,168 0.62 0.62

Betsson AB Sweden 106,145,545 12,977,259 0.62 1.22

BEC World PCL Thailand 53,619,456 6,555,467 0.82 0.82

BGF Co Ltd South Korea 53,024,011 6,482,668 1.41 1.41

BGF retail Co Ltd South Korea 191,249,532 23,381,996 0.69 0.69

Bic Camera Inc Japan 487,860,276 59,645,360 2.26 2.26

Bid Corp Ltd South Africa 796,878,483 97,425,649 1.19 1.19

Biglari Holdings IncUnited

States75,443,995 9,223,715 1.82 1.82

Big Lots IncUnited

States243,137,345 29,725,754 1.26 1.26

Bilia AB Sweden 209,662,210 25,633,114 2.51 2.51

Bitauto Holdings Ltd China 59,980,608 7,333,175 0.32 0.32

BIM Birlesik Magazalar AS Turkey 286,415,313 35,016,879 0.56 0.56

BJ's Restaurants IncUnited

States119,364,948 14,593,452 1.94 1.94

BK Brasil Operacao e Assessoria a

Restaurantes SABrazil 97,091,407 11,870,308 1.01 1.01

Bloomberry Resorts Corp Philippines 219,538,910 26,840,630 1.12 1.12

Bloomin' Brands IncUnited

States349,854,288 42,772,872 2.2 2.2

Bloomsbury Publishing PLCUnited

Kingdom10,334,981 1,263,545 0.66 0.66

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201781

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Blue Apron Holdings IncUnited

States18,541,564 2,266,875 0.03 0.3

Bob Evans Farms Inc/DEUnited

States 246,243,711 30,105,535 1.91 1.91

Bojangles' IncUnited

States15,228,443 1,861,816 0.43 0.43

Booker Group PLCUnited

Kingdom1,825,644,217 223,201,626 4.03 4.03

Boot Barn Holdings IncUnited

States18,438,648 2,254,293 0.51 0.51

Boozt AB Sweden 887,638 108,522 0.02 0.02

Borussia Dortmund GmbH & Co KGaA Germany 57,032,582 6,972,752 1.03 1.03

Boyd Gaming CorpUnited

States249,952,252 30,558,938 0.78 0.78

Bright Horizons Family Solutions IncUnited

States272,652,743 33,334,280 0.6 0.6

Brinker International IncUnited

States105,832,628 12,939,002 0.72 0.72

Briscoe Group LtdNew

Zealand10,996,767 1,344,455 0.25 0.25

BRONCO BILLY Co Ltd Japan 14,177,612 1,733,342 0.39 0.39

BTS Group Holdings PCL Thailand 30,455,299 3,723,438 0.12 0.12

BTS Rail Mass Transit Growth

Infrastructure FundThailand 14,550,913 1,778,982 0.09 0.09

Buckle Inc/TheUnited

States18,547,709 2,267,626 0.2 0.2

Buffalo Wild Wings IncUnited

States264,025,753 32,279,552 1.33 1.33

Burlington Stores IncUnited

States562,593,164 68,782,136 0.82 0.82

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201782

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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B&M European Value Retail SAUnited

Kingdom448,874,889 54,879,042 0.96 0.96

carsales.com Ltd Australia 216,958,185 26,525,113 0.97 0.97

cocokara fine Inc Japan 226,654,117 27,710,529 1.68 1.68

Cable One IncUnited

States249,953,990 30,559,151 0.76 0.76

Caesars Entertainment Corp

United

States 48,301,398 5,905,286 0.07 0.07

Cafe de Coral Holdings Ltd Hong Kong 134,466,760 16,439,786 1.02 1.02

Cairo Communication SpA Italy 49,658,099 6,071,155 1.01 1.01

Caleres IncUnited

States312,609,537 38,219,362 2.66 2.66

Canadian Tire Corp Ltd Canada 884,551,198 108,144,437 1.23

Capella Education CoUnited

States168,469,369 20,596,914 2.29 2.29

Cardinal Health IncUnited

States1,448,280,869 177,065,521 0.92 0.92

Card Factory PLCUnited

Kingdom378,394,649 46,262,191 3.39 3.39

Care Ratings Ltd India 159,323,659 19,478,768 3.17 3.17

Cargurus IncUnited

States12,260,846 1,499,000 0.01 0.05

CarMax IncUnited

States654,974,258 80,076,566 0.69 0.69

Carnival CorpUnited

States2,146,767,122 262,461,824 0.74 0.74

Carnival PLCUnited

Kingdom2,105,946,833 257,471,172 2.12 2.12

Carrefour SA France 1,593,809,083 194,857,670 0.94 1.16

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201783

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cars.com IncUnited

States292,365,579 35,744,354 1.73 1.73

Carvana CoUnited

States23,458,376 2,868,000 0.02 0.11

Casey's General Stores IncUnited

States228,295,732 27,911,232 0.66 0.66

Cashbuild Ltd South Africa 190,119,840 23,243,881 2.59 2.59

Cash Converters International Ltd Australia 11,326,307 1,384,744 1 1

Casino Guichard Perrachon SA France 602,671,057 73,682,023 0.74 1.09

Catena Media PLC Sweden 41,458,690 5,068,702 0.74 0.74

Cathay Pacific Airways Ltd Hong Kong 214,953,163 26,279,981 0.43 0.43

Cawachi Ltd Japan 89,908,821 10,992,172 1.81 1.81

Caxton and CTP Publishers and

Printers LtdSouth Africa 87,654,631 10,716,577 2.84 2.84

CAR Inc China 65,609,011 8,021,299 0.42 0.42

CBS CorpUnited

States1,466,609,994 179,306,423 0.12 0.76

CCC SA Poland 172,234,683 21,057,258 0.54 0.62

Cebu Air Inc Philippines 167,559,623 20,485,689 1.69 1.69

Cello Group PLCUnited

Kingdom1,452,012 177,522 0.09 0.09

Cellumed Co Ltd South Korea 999,238 122,166 0.07 0.07

Cencosud SA Chile 425,406,675 52,009,839 0.61 0.61

Central Japan Railway Co Japan 3,114,357,222 380,758,523 1.03 1.03

Central Plaza Hotel PCL Thailand 237,330,318 29,015,792 1.2 1.2

Central Sports Co Ltd Japan 636,777 77,852 0.02 0.02

Cewe Stiftung & Co KGAA Germany 45,665,231 5,582,990 0.71 0.71

CECONOMY AG Germany 512,213,988 62,622,823 1.28 1.27

Charter Communications IncUnited

States4,831,816,758 590,733,586 0.63 0.62

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201784

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cheesecake Factory Inc/TheUnited

States95,778,255 11,709,764 0.53 0.53

Chegg IncUnited

States32,785,607 4,008,339 0.23 0.23

Cheil Worldwide Inc South Korea 77,487,056 9,473,498 0.42 0.42

Chemed CorpUnited

States301,445,601 36,854,469 0.95 0.95

Chico's FAS IncUnited

States236,625,901 28,929,671 2.57 2.57

Children's Place Inc/TheUnited

States287,015,450 35,090,252 1.39 1.39

China Airlines Ltd Taiwan 150,923,584 18,451,782 0.86 0.86

China CYTS Tours Holding Co Ltd China 66,114,869 8,083,145 0.35 0.35

China Dongxiang Group Co Ltd China 94,920,816 11,604,934 1.1 1.1

China Eastern Airlines Corp Ltd China 860,191,410 105,166,231 1 1

China International Travel Service Corp

LtdChina 203,044,599 24,824,051 0.19 0.19

China Literature Ltd China 89,293,284 10,916,917 0.11 0.11

China Lodging Group Ltd China 143,300,513 17,519,792 0.17 0.17

China LotSynergy Holdings Ltd Hong Kong 17,881,610 2,186,190 1.31 1.31

China Maple Leaf Educational Systems

LtdChina 89,478,424 10,939,552 0.68 0.68

China Minsheng Financial Holding Corp

LtdChina 5,624,356 687,629 0.05 0.05

China Southern Airlines Co Ltd China 208,662,036 25,510,834 0.24 0.24

China South Publishing & Media Group

Co LtdChina 29,483,687 3,604,649 0.09 0.09

China Travel International Investment

Hong Kong LtdHong Kong 159,795,203 19,536,418 0.96 0.96

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201785

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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China Yongda Automobiles Services

Holdings LtdChina 346,718,515 42,389,495 2.01 2.01

China ZhengTong Auto Services

Holdings LtdChina 99,812,700 12,203,011 0.53 0.53

Chipotle Mexican Grill IncUnited

States395,942,797 48,407,611 0.59 0.59

Chiyoda Co Ltd Japan 71,281,236 8,714,780 0.78 0.78

Choice Hotels International IncUnited

States300,341,368 36,719,466 0.84 0.84

Chow Sang Sang Holdings International

LtdHong Kong 193,632,699 23,673,360 1.45 1.45

Chow Tai Fook Jewellery Group Ltd Hong Kong 299,991,809 36,676,730 0.35 0.35

Churchill Downs IncUnited

States260,663,597 31,868,498 0.89 0.89

CHIMNEY Co Ltd Japan 28,980,166 3,543,089 0.72 0.72

Cia Brasileira de Distribuicao Brazil 662,170,112 80,956,324 1.28

Cie des Alpes France 28,412,406 3,473,675 0.36 0.36

Cinemark Holdings Inc

United

States 231,966,810 28,360,054 0.7 0.7

Cineplex Inc Canada 131,800,381 16,113,796 0.85 0.85

Cineworld Group PLCUnited

Kingdom532,068,250 65,050,187 2.92 2.92

City Lodge Hotels Ltd South Africa 141,365,340 17,283,200 3.4 3.4

CJ CGV Co Ltd South Korea 182,345,700 22,293,422 1.52 1.52

CJ Freshway Corp South Korea 1,030,849 126,031 0.03 0.03

CJ Hello Co Ltd South Korea 55,389,856 6,771,914 1.32 1.32

CJ O Shopping Co Ltd South Korea 206,269,290 25,218,298 1.88 1.88

Clas Ohlson AB Sweden 196,210,818 23,988,559 1.49 2.66

Codere SA/Spain Spain 74,948,791 9,163,172 0.81 0.81

Cogeco Communications Inc Canada 355,415,595 43,452,792 0.33 1.27

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201786

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Collins Foods Ltd Australia 101,790,728 12,444,843 2.51 2.51

Colowide Co Ltd Japan 84,404,747 10,319,249 0.68 0.68

Colruyt SA Belgium 965,750,451 118,071,785 1.51 1.51

Comcast CorpUnited

States14,293,098,400 1,747,461,400 0.74 0.93

ComfortDelGro Corp Ltd Singapore 348,791,109 42,642,888 1.33 1.33

Compass Group PLCUnited

Kingdom5,590,615,724 683,503,668 1.99 1.99

Constantin Medien AG Germany 11,205,284 1,369,948 0.53 0.53

Controladora Vuela Cia de Aviacion

SAB de CVMexico 10,435,624 1,275,850 0.16 0.16

Conviviality PLCUnited

Kingdom18,217,360 2,227,238 0.22 0.22

Copart IncUnited

States1,105,391,966 135,144,231 1.35 1.35

Copa Holdings SAUnited

States239,680,335 29,303,103 0.52

Core-Mark Holding Co IncUnited

States36,455,459 4,457,012 0.31 0.31

Corporate Travel Management Ltd Australia 40,422,564 4,942,026 0.29 0.29

Corporativo Fragua SAB de CV Mexico 204,510,949 25,003,325 2.01 2.01

Corus Entertainment Inc Canada 272,961,580 33,372,038 1.73

Cosmos Pharmaceutical Corp Japan 449,586,111 54,965,995 1.32 1.32

Costco Wholesale CorpUnited

States5,573,980,160 681,469,818 0.83 0.83

Country Group Development PCL Thailand 1,985,160 242,704 0.07 0.07

Cox & Kings Ltd India 15,241,808 1,863,450 0.25 0.25

CONEXIO Corp Japan 146,338,261 17,891,185 1.93 1.93

COOKPAD Inc Japan 4,993,513 610,502 0.11 0.11

CP ALL PCL Thailand 861,127,286 105,280,650 0.5 0.5

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201787

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cracker Barrel Old Country Store IncUnited

States176,604,943 21,591,562 0.56 0.56

Create Restaurants Holdings Inc Japan 48,962,437 5,986,104 0.54 0.54

Create SD Holdings Co Ltd Japan 130,049,302 15,899,711 0.89 0.89

Crown Resorts Ltd Australia 575,871,829 70,405,574 1 1

Ctrip.com International Ltd China 498,343,032 60,926,972 0.27 0.27

Curro Holdings Ltd South Africa 206,661,046 25,266,194 1.79 1.79

CVC Brasil Operadora e Agencia de

Viagens SABrazil 325,788,817 39,830,649 1.92 1.92

CVS Health CorpUnited

States5,965,343,257 729,317,520 0.99 0.99

Daekyo Co Ltd South Korea 70,379,360 8,604,517 1.33 1.08

Daewoo Industrial Development Co Ltd South Korea 7,110 869 0.01 0.01

Dah Chong Hong Holdings Ltd China 48,470,708 5,925,985 0.69 0.69

Daikokutenbussan Co Ltd Japan 38,881,862 4,753,662 0.74 0.74

Daikoku Denki Co Ltd Japan 21,839,104 2,670,029 1.16 1.16

Daily Mail & General Trust PLCUnited

Kingdom405,948,136 49,630,855 1.72

Dairy Farm International Holdings Ltd Hong Kong 219,857,885 26,879,628 0.25 0.25

Daisyo Corp Japan 11,750,665 1,436,626 0.43 0.43

Dai Nippon Printing Co Ltd Japan 779,883,133 95,347,813 1.32 1.32

Darden Restaurants IncUnited

States1,240,150,666 151,619,709 1.28 1.28

Dart Group PLC

United

Kingdom 287,892,636 35,197,496 2.58 2.58

Dave & Buster's Entertainment IncUnited

States128,765,991 15,742,815 0.7 0.7

Dazhong Transportation Group Co Ltd China 43,215,342 5,283,469 0.34 0.34

DA Consortium Holdings Inc Japan 17,360,862 2,122,523 0.15 0.15

DCM Holdings Co Ltd Japan 169,616,407 20,737,150 1.56 1.56

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201788

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Debenhams PLCUnited

Kingdom116,342,789 14,223,965 2.46 2.46

Delek Automotive Systems Ltd Israel 41,355,512 5,056,088 0.73 0.73

Delivery Hero AG Germany 563,217,918 68,858,518 0.95 0.95

Delta Air Lines IncUnited

States1,223,810,509 149,621,976 0.37 0.37

Dentsu Inc Japan 789,344,828 96,504,591 0.79 0.79

DeNA Co Ltd Japan 130,398,462 15,942,399 0.51 0.51

Despegar.com CorpUnited

States24,724,539 3,022,800 0.16 0.16

Detsky Mir PJSC Russia 395,780,345 48,387,750 3.93 3.93

Deutsche Lufthansa AG Germany 2,963,044,844 362,259,207 2.08 2.08

DEN Networks Ltd India 39,898,286 4,877,929 1.5 1.5

DHX Media Ltd Canada 28,846,103 3,526,699 0.73 0.73

Dickson Concepts International Ltd Hong Kong 584 71 0

Dick's Sporting Goods IncUnited

States318,240,358 38,907,781 0.41 1.26

Dignity PLCUnited

Kingdom186,151,779 22,758,750 1.85 1.85

Dillard's IncUnited

States123,428,557 15,090,265 1.03 0.88

DineEquity IncUnited

States11,010,391 1,346,121 0.15 0.15

Dino Polska SA Poland 133,739,810 16,350,909 0.74 0.74

Diplomat Pharmacy IncUnited

States31,610,236 3,864,639 0.26 0.26

Discovery Communications IncUnited

States 238,629,990 29,174,689 0.05 0.35

Dish TV India Ltd India 15,207,123 1,859,209 0.14 0.14

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201789

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Distribuidora Internacional de

Alimentacion SASpain 932,059,546 113,952,765 3.54 3.54

Dis-Chem Pharmacies Ltd South Africa 27,503,853 3,362,596 0.13 0.13

Dixons Carphone PLCUnited

Kingdom491,993,222 60,150,650 1.93 1.93

DISH Network CorpUnited

States452,164,101 55,281,178 0.04 0.25

DIXY Group PJSC Russia 172,858,920 21,133,577 3 3

Dolby Laboratories IncUnited

States448,708,639 54,858,716 0.18 0.86

Dollarama Inc Canada 1,055,925,387 129,096,491 0.92 0.92

Dollar General CorpUnited

States2,158,966,899 263,953,358 1.05 1.05

Dollar Tree IncUnited

States1,466,012,278 179,233,347 0.7 0.7

Domain Holdings Australia Ltd Australia 74,698,219 9,132,537 0.59 0.59

Domino's Pizza Enterprises Ltd Australia 129,082,023 15,781,452 0.49 0.49

Domino's Pizza Group PLCUnited

Kingdom369,740,953 45,204,198 1.99 1.99

Domino's Pizza IncUnited

States583,174,463 71,298,387 0.86 0.86

Dongyang Express Corp South Korea 3,276,711 400,608 0.47 0.47

Don Quijote Holdings Co Ltd Japan 285,465,842 34,900,798 0.42 0.42

Doutor Nichires Holdings Co Ltd Japan 284,373,029 34,767,192 2.78 2.78

DO & CO AG Austria 109,477,492 13,384,620 2.43 2.43

DSW IncUnited

States283,640,625 34,677,649 1.21 2.02

Dufry AG Switzerland 1,249,197,890 152,725,814 1.91 1.91

Dunelm Group PLCUnited

Kingdom303,304,659 37,081,756 1.96 1.96

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201790

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Dunkin' Brands Group IncUnited

States 312,081,172 38,154,764 0.66 0.66

Dun & Bradstreet Corp/TheUnited

States193,199,738 23,620,427 0.54 0.54

Dusit Thani PCL Thailand 14,642,304 1,790,155 0.65 0.65

Duskin Co Ltd Japan 187,068,722 22,870,854 1.57 1.57

DXB Entertainments PJSCUnited Arab

Emirates122,294,368 14,951,600 1.08 1.08

Dynam Japan Holdings Co Ltd Hong Kong 60,818,714 7,435,641 0.66 0.66

D'ieteren SA/NV Belgium 458,062,497 56,002,310 2.25 2.25

easyJet PLCUnited

Kingdom980,147,485 119,831,953 1.52 1.52

eBay IncUnited

States2,628,034,257 321,301,113 0.82 0.82

eDreams ODIGEO SA Spain 25,910,335 3,167,774 0.51 0.51

eSun Holdings Ltd China 33,863,741 4,140,151 1.69 1.69

East Japan Railway Co Japan 3,784,007,578 462,629,375 1.23 1.23

East Money Information Co Ltd China 86,075,241 10,523,482 0.12 0.12

Ebiquity PLCUnited

Kingdom3,728,729 455,871 0.43 0.43

EDION Corp Japan 153,839,215 18,808,244 1.44 1.44

Egyptian Media Production City Egypt 6,400,208 782,484 1.07 1.07

EI Group PLCUnited

Kingdom258,375,477 31,588,754 3.45 3.45

Ekspress Grupp AS Estonia 4,589,366 561,092 1.25 1.25

Elior Group SA France 487,608,547 59,614,584 1.67 1.67

El Puerto de Liverpool SAB de CV Mexico 65,985,678 8,067,350 0.09

Emerson Pacific Inc South Korea 674,794 82,500 0.02 0.02

Emperor Watch & Jewellery Ltd Hong Kong 23,971,345 2,930,715 0.94 0.94

Empire Co Ltd Canada 419,695,437 51,311,588 0.97

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201791

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Empresa Editora EL Comercio Peru 8,997,771 1,100,059 0.4

Entercom Communications CorpUnited

States97,634,447 11,936,700 0.53 0.76

Entertainment One LtdUnited

Kingdom 363,448,283 44,434,861 2.34 2.34

Enter Air SA Poland 24,973,752 3,053,269 2.1 2.1

Erajaya Swasembada Tbk PT Indonesia 26,586,258 3,250,412 2.07 2.07

Erawan Group PCL/The Thailand 163,642,807 20,006,823 3 3

Eros International Media Ltd India 29,183,420 3,567,939 1.21 1.21

Esprit Holdings Ltd Hong Kong 105,334,480 12,878,099 1.26 1.26

Estacio Participacoes SA Brazil 354,746,914 43,371,040 1.38 1.38

ESCRIT Inc Japan 2,579,164 315,326 0.3 0.3

Etsy IncUnited

States94,222,401 11,519,546 0.46 0.46

Eurocash SA Poland 182,139,868 22,268,257 2.1 2.1

Euromoney Institutional Investor PLCUnited

Kingdom172,406 21,078 0

EuropaCorp France 66,869 8,175 0.02 0.02

Europcar Groupe SA France 242,379,692 29,633,124 1.5 1.5

Eutelsat Communications SA France 921,758,404 112,693,356 2.09 2.09

Eva Airways Corp Taiwan 131,831,250 16,117,570 0.73 0.73

Evolution Gaming Group AB Sweden 43,191,443 5,280,547 0.19 0.19

EVENT Hospitality and Entertainment

LtdAustralia 30,038,151 3,672,437 0.22 0.22

EW Scripps Co/TheUnited

States32,365,690 3,957,000 0.31

Expedia IncUnited

States832,580,999 101,790,607 0.32 0.56

Express IncUnited

States174,324,332 21,312,737 2.66 2.66

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201792

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Extended Stay America IncUnited

States355,923,458 43,514,883 1.19 1.19

E-MART Inc South Korea 672,118,699 82,172,630 1.16 1.16

FactSet Research Systems IncUnited

States281,993,582 34,476,283 0.46 0.46

Fairfax Media Ltd Australia 143,006,386 17,483,833 1.25 1.25

FamilyMart UNY Holdings Co Ltd Japan 720,710,049 88,113,365 0.99 0.99

Fang Holdings Ltd China 45,192,215 5,525,160 0.06 1.12

Far Eastern Department Stores Ltd Taiwan 118,704,086 14,512,655 2.03 2.03

Far East Orchard Ltd Singapore 14,377,224 1,757,747 0.37 0.37

Fast Retailing Co Ltd Japan 1,254,331,079 153,353,393 0.36 0.36

Fawaz Abdulaziz Al Hokair & CoSaudi

Arabia176,627,000 21,594,259 1.27

FF Group Greece 178,298,195 21,798,578 1.43 1.43

Fiamma Holdings BHD Malaysia 8,082,808 988,197 1.53 1.53

Fields Corp Japan 16,761,590 2,049,257 0.55 0.55

Fielmann AG Germany 476,953,107 58,311,859 0.8 0.8

Fila Korea Ltd South Korea 214,098,660 26,175,510 2.81 2.81

Findel PLCUnited

Kingdom56,894,025 6,955,812 2.84 2.84

Finish Line Inc/TheUnited

States47,338,483 5,787,561 0.99 0.99

Finnair OYJ Finland 392,439,557 47,979,308 2.4 2.4

Firstgroup PLCUnited

Kingdom551,717,270 67,452,459 3.73 3.73

Five Below IncUnited

States209,195,405 25,576,043 0.7 0.7

Flight Centre Travel Group Ltd Australia 270,852,421 33,114,174 0.95 0.95

Fnac Darty SA France 629,806,289 76,999,552 2.39 2.39

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201793

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Foot Locker IncUnited

States668,961,338 81,786,614 1.44 1.44

Formosa International Hotels Corp Taiwan 33,604,636 4,108,473 0.63 0.63

Foschini Group Ltd/The South Africa 583,758,296 71,369,766 1.89 1.89

Four Corners Property Trust IncUnited

States182,743,138 22,342,012 1.42 1.42

Four Seasons Education Cayman Inc China 4,351,038 531,954 0.12

FTD Cos IncUnited

States34,970,732 4,275,490 2.16 2.16

Fuji Co Ltd/Ehime Japan 30,740,610 3,758,319 0.46 0.46

Fuji Kyuko Co Ltd Japan 27,448,871 3,355,874 0.21 0.21

Fuji Media Holdings Inc Japan 45,842,377 5,604,648 0.15 0.15

Future Enterprises Ltd India 11,059,313 1,352,102 0.41 0.38

Future Retail Ltd India 417,141,210 50,999,310 1.26 1.26

Fu Shou Yuan International Group Ltd China 19,673,559 2,405,272 0.13 0.13

F@N Communications Inc Japan 51,731,625 6,324,662 1.02 1.02

G8 Education Ltd Australia 145,011,368 17,728,960 1.49 1.49

Gakken Holdings Co Ltd Japan 38,566,741 4,715,135 1.02 1.02

Galaxy Entertainment Group Ltd Hong Kong 2,329,134,695 284,757,920 0.82 0.82

Galenica AG Switzerland 394,462,477 48,226,629 1.84 1.84

Gamenet Group SpA Italy 26,478,280 3,237,211 1.14 1.14

GameStop CorpUnited

States204,746,313 25,032,101 1.38 1.38

Gannett Co IncUnited

States263,898,253 32,263,964 2.49 2.49

Gap Inc/TheUnited

States1,222,044,205 149,406,029 1.13 1.13

GAEC Educacao SA Brazil 26,780,718 3,274,187 0.47 0.47

Genesco IncUnited

States34,362,104 4,201,080 0.65 0.65

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201794

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Genting Hong Kong Ltd Singapore 50,271,610 6,146,162 0.33 0.33

Genting Malaysia Bhd Malaysia 590,265,336 72,165,311 0.92 0.92

Genting Singapore PLC Singapore 597,173,970 73,009,954 0.62 0.62

George Weston Ltd Canada 701,807,859 85,802,400 0.77 0.77

Geo Holdings Corp Japan 102,027,568 12,473,799 1.33 1.33

GEDI Gruppo Editoriale SpA Italy 28,746,651 3,514,540 0.82 0.82

Giordano International Ltd Hong Kong 118,165,362 14,446,791 1.73 1.73

GL Ltd Singapore 51,467,183 6,292,332 0.73 0.73

GNC Holdings IncUnited

States20,711,778 2,532,203 0.99 0.99

Gocompare.Com Group PLCUnited

Kingdom138,753,687 16,963,901 2.81 2.81

Golden Eagle Retail Group Ltd China 64,518,386 7,887,960 0.39 0.39

Gol Linhas Aereas Inteligentes SA Brazil 54,967,579 6,720,287 0.05

Gourmet Master Co Ltd Taiwan 136,824,374 16,728,025 0.7 0.7

Go-Ahead Group PLCUnited

Kingdom210,396,540 25,722,892 2.96 2.96

GOLFZONNEWDIN Co Ltd South Korea 5,752,748 703,326 0.33 0.33

GOME Retail Holdings Ltd China 137,815,646 16,849,217 0.65 0.65

Graham Holdings CoUnited

States442,559,328 54,106,907 1.75 1.75

Grand Baoxin Auto Group Ltd China 24,513,919 2,997,050 0.21 0.21

Grand Canyon Education IncUnited

States308,415,023 37,706,544 0.88 0.88

Grand Korea Leisure Co Ltd South Korea 65,448,698 8,001,699 0.47 0.47

Gray Television IncUnited

States67,458,359 8,247,398 0.33 0.55

Great Canadian Gaming Corp Canada 278,013,438 33,989,674 2.07 2.07

Great Eagle Holdings Ltd Hong Kong 112,603,234 13,766,770 0.38 0.38

Greencross Ltd Australia 28,960,950 3,540,740 0.61 0.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201795

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Greene King PLCUnited

Kingdom296,301,859 36,225,600 1.56 1.56

Gree Inc Japan 244,542,301 29,897,522 1.97 1.97

Greggs PLCUnited

Kingdom449,688,258 54,978,483 2.87 2.87

Groupe Flo France 4,583,158 560,333 0.23 0.23

Groupe SFPI France 26,494,686 3,239,217 0.53 0.94

Groupon IncUnited

States179,713,412 21,971,601 0.77 0.77

Group 1 Automotive IncUnited

States183,436,678 22,426,804 1.51 1.51

GrubHub IncUnited

States46,916,411 5,735,958 0.09 0.09

Grupo Aeromexico SAB de CV Mexico 61,308,725 7,495,550 0.74 0.74

Grupo Comercial Chedraui SA de CV Mexico 57,020,977 6,971,334 0.39 0.39

Grupo Elektra SAB DE CV Mexico 64,079,848 7,834,345 0.09 0.09

Grupo Hotelero Santa Fe SAB de CV Mexico 31,361,665 3,834,249 1.49 1.49

Grupo Sanborns SAB de CV Mexico 47,312,352 5,784,366 0.25 0.25

Grupo Televisa SAB Mexico 510,073,980 62,361,188 0.56 0.56

GS Home Shopping Inc South Korea 149,889,767 18,325,389 1.38 1.38

GS Retail Co Ltd South Korea 134,767,070 16,476,501 0.57 0.57

GTN Ltd Australia 9,409,429 1,150,388 0.24 0.24

GTPL Hathway Ltd India 62,164,469 7,600,172 2.61 2.61

Guangshen Railway Co Ltd China 96,294,888 11,772,927 0.25 0.25

Guess? IncUnited

States10,969,871 1,341,167 0.1 0.1

Gurunavi Inc Japan 51,751,911 6,327,142 1.09 1.09

GVC Holdings PLCUnited

Kingdom670,237,700 81,942,660 2.16 2.16

H2O Retailing Corp Japan 382,188,981 46,726,082 1.78 1.78

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201796

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Haichang Ocean Park Holdings Ltd China 37,247,207 4,553,810 0.51 0.51

Hai-O Enterprise Bhd Malaysia 43,027,755 5,260,535 1.36 1.36

Hakuhodo DY Holdings Inc Japan 315,353,912 38,554,887 0.76 0.76

Halfords Group PLCUnited

Kingdom280,043,327 34,237,846 3.63 3.63

Halows Co Ltd Japan 4,724,999 577,674 0.13 0.13

Hana Tour Service Inc South Korea 184,283,377 22,530,320 2.02 2.02

Hanjin Kal Corp South Korea 22,087,056 2,700,344 0.27 0.26

Hankyu Hanshin Holdings Inc Japan 924,261,883 112,999,429 1.11 1.11

Hard Off Corp Co Ltd Japan 14,121,617 1,726,496 1.13 1.13

Harvey Norman Holdings Ltd Australia 214,175,046 26,184,849 0.72 0.72

Hathway Cable & Datacom Ltd India 119,902,074 14,659,120 2.82 2.82

Hawaiian Holdings IncUnited

States221,170,425 27,040,098 1.29 1.29

HC International Inc Hong Kong 8,879,156 1,085,558 0.14 0.14

Heiwado Co Ltd Japan 117,945,418 14,419,901 1.18 1.18

Heiwa Corp Japan 130,902,653 16,004,041 0.85 0.85

HelloFresh SE Germany 134,916,452 16,494,764 0.72 0.72

Hengdeli Holdings Ltd China 24,188,450 2,957,258 1.32 1.32

Hennes & Mauritz AB Sweden 2,770,988,360 338,778,553 0.48 0.99

Herc Holdings IncUnited

States175,881,823 21,503,154 1.21 1.21

Here Media IncUnited

States79 10 0.23 0.46

Herfy Food Services CoSaudi

Arabia149,213,317 18,242,686 2.29

Hertz Global Holdings IncUnited

States83,805,636 10,246,002 0.55 0.55

Hibbett Sports IncUnited

States39,905,102 4,878,762 1.25 1.25

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201797

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hiday Hidaka Corp Japan 102,038,924 12,475,187 1.41 1.41

Highlight Communications AG Switzerland 11,740,126 1,435,337 0.37 0.37

Hillenbrand IncUnited

States352,554,914 43,103,048 1.53 1.53

Hilton Grand Vacations IncUnited

States72,878,108 8,910,012 0.21 0.21

Hilton Worldwide Holdings IncUnited

States877,772,085 107,315,628 0.42 0.42

HIS Co Ltd Japan 496,725,740 60,729,244 2.44 2.44

Home Depot Inc/TheUnited

States16,839,462,442 2,058,777,585 0.93 0.93

Home Product Center PCL Thailand 276,291,671 33,779,172 0.65 0.65

Hornbach Baumarkt AG Germany 129,797,024 15,868,868 1.34 1.34

Hornbach Holding AG & Co KGaA Germany 82,886,787 10,133,664 0.7 0.7

Hotai Motor Co Ltd Taiwan 448,940,310 54,887,040 0.84 0.84

Hoteles City Express SAB de CV Mexico 81,557,440 9,971,139 2.17 2.17

Hotel Shilla Co Ltd South Korea 234,825,455 28,709,550 0.92 0.91

Houghton Mifflin Harcourt CoUnited

States187,272,992 22,895,828 2 2

HSN IncUnited

States303,048,015 37,050,379 1.75 1.75

HT Media Ltd India 90,974,644 11,122,478 2.99 2.99

HT&E Ltd Australia 82,237,772 10,054,316 2.21 2.21

Huangshan Tourism Development Co

LtdChina 48,456,800 5,924,285 0.58 0.58

Huayi Tencent Entertainment Co Ltd China 12,253,853 1,498,145 0.24 0.24

Hudson's Bay Co Canada 5,769,801 705,411 0.04 0.04

Hurriyet Gazetecilik ve Matbaacilik AS Turkey 28,914,372 3,535,045 1.81 1.81

Hyatt Hotels CorpUnited

States109,257,566 13,357,732 0.02 0.15

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201798

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hyundai Department Store Co Ltd South Korea 215,739,578 26,376,127 1.15 1.15

Hyundai Greenfood Co Ltd South Korea 101,393,985 12,396,338 0.91 0.91

Hyundai Home Shopping Network Corp South Korea 415,154,949 50,756,472 3.76 3.76

H&R Block IncUnited

States798,292,046 97,598,470 1.78 1.78

Ibersol SGPS SA Portugal 102,252,658 12,501,318 2.86 2.86

Ibnsina Pharma SAE Egypt 54,950,093 6,718,149 2.19

IBJ Inc Japan 3,178,983 388,660 0.1 0.1

Ichibanya Co Ltd Japan 68,664,570 8,394,869 0.65 0.65

Ichinen Holdings Co Ltd Japan 3,660,863 447,574 0.13 0.13

ICA Gruppen AB Sweden 611,829,868 74,801,771 1.02 1.02

IDOM Inc Japan 6,133,968 749,933 0.1 0.1

IDP Education Ltd Australia 118,924,436 14,539,595 1.21 1.21

ILG IncUnited

States307,463,258 37,590,182 1.06 1.06

Imperial Hotel Ltd Japan 4,213,835 515,180 0.04 0.04

Impresa SGPS SA Portugal 15,697,927 1,919,214 2.78 2.78

IMAX China Holding Inc Hong Kong 38,870,395 4,752,260 0.44 0.44

IMAX CorpUnited

States192,952,101 23,590,151 1.57 1.57

Inageya Co Ltd Japan 19,585,676 2,394,527 0.27 0.27

Inchcape PLCUnited

Kingdom1,022,867,143 125,054,820 2.85 2.85

Independent News & Media PLC Ireland 4,183,838 511,512 0.33 0.33

Indian Hotels Co Ltd/The India 675,317,786 82,563,747 3.76 3.76

Industria de Diseno Textil SA Spain 8,258,914,719 1,009,727,511 0.93 0.93

Infomedia Ltd Australia 8,659,573 1,058,712 0.51 0.51

Informa PLCUnited

Kingdom1,173,139,058 143,426,930 1.78 1.78

Info Edge India Ltd India 13,103,746 1,602,052 0.06 0.06

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 201799

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Innocean Worldwide Inc South Korea 70,265,835 8,590,638 0.63 0.63

InRetail Peru Corp Peru 100,630,003 12,302,934 0.57 0.57

InterContinental Hotels Group PLCUnited

Kingdom1,978,693,027 241,913,236 1.99 1.99

InterGlobe Aviation Ltd India 12,489,105 1,526,907 0.02 0.02

International Consolidated Airlines

Group SA

United

Kingdom1,814,868,875 221,884,242 1.25 1.25

International Game Technology PLCUnited

States190,774,306 23,323,896 0.22 0.22

International Speedway CorpUnited

States237,277,753 29,009,365 0.59 1.65

Interpark Holdings Corp South Korea 9,184,184 1,122,850 0.52 0.52

Interpublic Group of Cos Inc/TheUnited

States558,551,026 68,287,948 0.87 0.87

Intralot SA-Integrated Lottery Systems &

ServicesGreece 44,876,737 5,486,590 2.54 2.54

Investors Cloud Co Ltd Japan 24,734,746 3,024,048 0.26 0.26

InvoCare Ltd Australia 83,575,881 10,217,912 0.74 0.74

IPSOS France 416,760,434 50,952,757 2.65 3.11

Irish Continental Group PLC Ireland 1,806,048 220,806 0.02 0.02

Isetan Mitsukoshi Holdings Ltd Japan 119,559,362 14,617,220 0.3 0.3

Italiaonline SpA Italy 26,963,811 3,296,571 0.77 0.77

Italtile Ltd South Africa 254,963,936 31,171,662 1.99 1.99

Itochu Enex Co Ltd Japan 117,238,421 14,333,464 1.27 1.27

Itochu-Shokuhin Co Ltd Japan 18,112,704 2,214,443 0.31 0.31

Itokuro Inc Japan 67,849,177 8,295,180 1.36 1.36

ITE Group PLCUnited

Kingdom50,620,055 6,188,763 0.93 0.93

ITV PLCUnited

Kingdom1,414,282,121 172,908,865 1.92 1.92

IT Ltd Hong Kong 33,594,902 4,107,283 0.81 0.81

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017100

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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IVE Group Ltd Australia 60,436,741 7,388,942 2.94 2.94

IVS Group SA Italy 33,599,695 4,107,869 0.67 0.67

Izumi Co Ltd Japan 128,793,980 15,746,237 0.35 0.35

I K K Inc Japan 3,978,301 486,383 0.22 0.22

Jackpotjoy PLCUnited

Kingdom37,126,488 4,539,051 0.55 0.55

Jack in the Box IncUnited

States196,835,333 24,064,911 0.83 0.83

Jamieson Wellness Inc Canada 14,583,717 1,782,992 0.26 0.26

Japan Airlines Co Ltd Japan 1,090,963,715 133,380,246 0.96 0.96

Japan Meat Co Ltd Japan 88,452,251 10,814,093 2.52 2.52

Jardine Cycle & Carriage Ltd Singapore 617,756,507 75,526,357 0.63 0.63

Jarir Marketing CoSaudi

Arabia19,789,297 2,419,422 0.07

Jazeera Airways Co KSC Kuwait 9,227,809 1,128,184 0.26 0.26

JB Hi-Fi Ltd Australia 740,793,631 90,568,765 4.04 4.04

JCDecaux SA France 676,205,555 82,672,285 0.96 0.96

JD Sports Fashion PLCUnited

Kingdom680,210,498 83,161,926 1.88 1.88

JD.com Inc China 1,291,998,400 157,958,566 0.06 0.13

Jean Coutu Group PJC Inc/The Canada 296,270,472 36,221,762 0.17 1.01

Jeju Air Co Ltd South Korea 57,665,180 7,050,093 0.81 0.81

Jeronimo Martins SGPS SA Portugal 1,166,165,641 142,574,366 1.23 1.23

JetBlue Airways CorpUnited

States428,823,884 52,427,624 0.73 0.73

Jet Airways India Ltd India 23,724,376 2,900,521 0.2 0.2

John Wiley & Sons IncUnited

States509,161,816 62,249,667 0.68 1.66

Joshin Denki Co Ltd Japan 101,032,577 12,352,152 1.21 1.21

Joyful Honda Co Ltd Japan 98,488,738 12,041,145 0.75 0.75

Jubilant Foodworks Ltd India 9,705,636 1,186,602 0.07 0.07

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017101

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Jubilee Enterprise PCL Thailand 31,843,999 3,893,219 2.98 2.98

Jumbo Group Ltd Singapore 1,306,499 159,731 0.06 0.06

Just Eat PLCUnited

Kingdom766,502,427 93,711,900 1.3 1.3

Juventus Football Club SpA Italy 27,251,854 3,331,787 0.36 0.36

JW Holdings Corp South Korea 6,154,122 752,397 0.15 0.15

J D Wetherspoon PLCUnited

Kingdom543,775,039 66,481,449 3.71 3.71

J Front Retailing Co Ltd Japan 403,913,711 49,382,128 0.97 0.97

J Resources Asia Pasific Tbk PT Indonesia 6,852,442 837,773 0.24 0.24

J Sainsbury PLCUnited

Kingdom825,842,257 100,966,734 1.41 1.41

K12 IncUnited

States65,484,525 8,006,079 1.22 1.22

Kabel Deutschland Holding AG Germany 550,315,127 67,281,034 0.58 0.58

Kadokawa Dwango Corp Japan 82,958,209 10,142,396 1.16 1.16

Kakaku.com Inc Japan 308,756,187 37,748,255 1.04 1.04

Kambi Group PLC Sweden 85,949,559 10,508,116 3 3

Kamei Corp Japan 77,629,254 9,490,883 1.46 1.46

Kanagawa Chuo Kotsu Co Ltd Japan 2,915,232 356,414 0.09 0.09

Kangwon Land Inc South Korea 483,828,442 59,152,432 0.85 0.85

Kansai Super Market Ltd Japan 5,528,238 675,877 0.19 0.19

Kappa Create Co Ltd Japan 7,410,731 906,029 0.16 0.16

KappAhl AB Sweden 42,631,752 5,212,120 1.23 1.23

Kathmandu Holdings LtdNew

Zealand75,487,151 9,228,991 2.64 2.64

KAR Auction Services IncUnited

States434,303,252 53,097,526 0.78 0.78

Keihan Holdings Co Ltd Japan 117,227,376 14,332,114 0.43 0.43

Keikyu Corp Japan 235,812,832 28,830,265 0.54 0.54

Keio Corp Japan 289,442,400 35,386,968 0.63 0.63

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017102

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Keisei Electric Railway Co Ltd Japan 569,317,071 69,604,195 1.26 1.26

Keiyo Co Ltd Japan 19,221,712 2,350,029 0.6 0.6

Kering France 6,612,099,571 808,389,367 0.96 1.36

Kesko OYJ Finland 534,097,740 65,298,311 0.31 1.2

KFC Holdings Japan Ltd Japan 9,442,999 1,154,493 0.28 0.28

Kinepolis Group NV Belgium 150,031,229 18,342,684 1 1

Kingfisher PLCUnited

Kingdom1,947,570,107 238,108,176 2.41 2.41

Kingston Financial Group Ltd Hong Kong 145,238,838 17,756,770 0.14 0.14

Kintetsu Department Store Co Ltd Japan 10,213,296 1,248,668 0.08 0.08

Kintetsu Group Holdings Co Ltd Japan 421,354,131 51,514,378 0.7 0.7

Kisoji Co Ltd Japan 39,914,588 4,879,922 0.76 0.76

KNT-CT Holdings Co Ltd Japan 39,127,787 4,783,728 1.09 1.09

Kobe Bussan Co Ltd Japan 55,080,242 6,734,061 0.51 0.51

Kohl's CorpUnited

States1,044,164,920 127,658,667 1.4 1.4

Kohnan Shoji Co Ltd Japan 118,523,128 14,490,531 1.94 1.94

Kojima Co Ltd Japan 7,704,200 941,909 0.37 0.37

Komeri Co Ltd Japan 414,397,299 50,663,842 3.22 3.22

Koninklijke Ahold Delhaize NV Netherlands 4,041,812,481 494,148,371 1.8 1.8

Korean Air Lines Co Ltd South Korea 113,825,076 13,916,152 0.46 0.46

Kosaido Co Ltd Japan 6,728,131 822,575 0.83 0.83

Koshidaka Holdings Co Ltd Japan 25,609,315 3,130,972 0.32 0.32

Kourakuen Holdings Corp Japan 12,131,010 1,483,126 0.54 0.54

KOMEDA Holdings Co Ltd Japan 85,023,154 10,394,855 1.25 1.25

Kroger Co/TheUnited

States1,940,505,153 237,244,421 0.98 0.98

Kroton Educacional SA Brazil 805,861,132 98,523,860 1.08 1.08

KT Skylife Co Ltd South Korea 68,347,195 8,356,067 1.39 1.39

Kura Corp Japan 89,853,044 10,985,353 0.91 0.91

Kusuri no Aoki Holdings Co Ltd Japan 39,446,031 4,822,636 0.29 0.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017103

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kyushu Railway Co Japan 931,450,956 113,878,359 2.29 2.29

K's Holdings Corp Japan 507,688,294 62,069,516 2.16 2.16

Label Vie Morocco 124,700,871 15,245,817 2.83 2.83

Ladbrokes Coral Group PLCUnited

Kingdom876,519,296 107,162,464 2.27 2.27

Lagardere SCA France 573,326,069 70,094,331 1.24 1.67

Laox Co Ltd Japan 4,104,647 501,830 0.15 0.15

Lastminute.com NV Switzerland 1,824,865 223,106 0.1 0.1

Las Vegas Sands CorpUnited

States2,240,595,466 273,933,193 0.5 0.5

Latam Airlines Group SA Chile 480,166,137 58,704,682 0.68 0.68

Lawson Inc Japan 470,439,288 57,515,486 0.86 0.86

La Comer SAB de CV Mexico 94,868,707 11,598,563 1.03 1.03

La Quinta Holdings IncUnited

States185,990,922 22,739,083 1.05 1.05

Lenta Ltd Russia 172,109,696 21,041,977 0.74 0.74

LeoVegas AB Sweden 289,300,812 35,369,658 3.47 3.47

Lianhua Supermarket Holdings Co Ltd China 5,301,807 648,194 0.16 0.16

Liberty Expedia Holdings IncUnited

States333,226,912 40,740,024 1.11 1.61

Liberty Global Plc LiLACUnited

States368,258,127 45,022,909 0.83 1.32

Liberty Global PLCUnited

States1,978,139,949 241,845,617 1.02 0.85

Liberty Interactive Corp QVC GroupUnited

States548,011,308 66,999,371 0.4 0.65

Liberty Media Corp-Liberty BravesUnited

States200,450,939 24,506,952 2.79 2.24

Liberty Media Corp-Liberty Formula

One

United

States1,156,081,211 141,341,453 1.37 1.81

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017104

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Liberty Media Corp-Liberty SiriusXMUnited

States1,093,350,458 133,672,047 1 1

Liberty TripAdvisor Holdings IncUnited

States92,664,325 11,329,057 1.19 1.6

Lifestyle China Group Ltd Hong Kong 3,476,048 424,979 0.09 0.09

Lifestyle International Holdings Ltd Hong Kong 90,339,624 11,044,842 0.52 0.52

Life Corp Japan 45,955,965 5,618,535 0.39 0.39

Lions Gate Entertainment CorpUnited

States312,778,887 38,240,066 0.69 0.56

Lithia Motors IncUnited

States88,629,837 10,835,804 0.28 0.38

Live Nation Entertainment IncUnited

States322,070,560 39,376,058 0.45 0.45

LIXIL VIVA Corp Japan 25,820,505 3,156,792 0.41 0.41

Loblaw Cos Ltd Canada 1,154,871,822 141,193,594 0.67 0.67

Localiza Rent a Car SA Brazil 256,453,731 31,353,803 0.71 0.71

Loen Entertainment Inc South Korea 321,380,072 39,291,639 1.48 1.48

Lojas Americanas SA Brazil 413,227,726 50,520,851 0.37 0.64

Lojas Renner SA Brazil 718,775,337 87,876,828 1.15 1.15

Lookers PLCUnited

Kingdom169,878,165 20,769,152 3.76 3.76

Lotte Shopping Co Ltd South Korea 110,142,676 13,465,945 0.26 0.26

Lowe's Cos IncUnited

States5,584,783,192 682,790,588 0.89 0.89

LOTTE Himart Co Ltd South Korea 152,566,152 18,652,601 1.23 1.23

Luk Fook Holdings International Ltd Hong Kong 569,980,931 69,685,358 2.77 2.77

L Brands IncUnited

States1,309,002,072 160,037,420 0.94 0.94

L'Occitane International SA Hong Kong 121,918,426 14,905,637 0.55 0.55

momo.com Inc Taiwan 17,755,114 2,170,724 0.21 0.21

M3 Inc Japan 725,489,810 88,697,734 0.78 0.78

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017105

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Macau Legend Development Ltd Hong Kong 15,437,002 1,887,314 0.2 0.2

Macromill Inc Japan 41,492,473 5,072,833 0.54 0.54

Macy's IncUnited

States770,898,357 94,249,342 1.23 1.23

Mac House Co Ltd Japan 3,727,649 455,739 0.35 0.35

Madison Square Garden Co/TheUnited

States362,579,808 44,328,682 0.33 0.89

Magazine Luiza SA Brazil 874,163,037 106,874,389 2.32 2.32

Magnit PJSC Russia 199,505,446 24,391,357 0.21 0.21

Mahindra Holidays & Resorts India Ltd India 248,541,907 30,386,511 4.31 4.31

Majestic Wine PLCUnited

Kingdom1,865,737 228,103 0.05 0.05

Major Cineplex Group PCL Thailand 231,288,950 28,277,180 3.55 3.55

MakeMyTrip LtdUnited

States39,501,611 4,829,432 0.31 0.18

Mantra Group Ltd Australia 125,391,079 15,330,201 1.69 1.69

Maoye International Holdings Ltd China 9,964,257 1,218,221 0.23 0.23

Marisa Lojas SA Brazil 46,586,793 5,695,660 1.28 1.28

MarkLines Co Ltd Japan 3,921,906 479,489 0.28 0.28

Marks & Spencer Group PLCUnited

Kingdom1,309,561,164 160,105,774 2.31 2.31

Marriott International Inc/MDUnited

States2,810,268,842 343,580,950 0.69 0.69

Marriott Vacations Worldwide CorpUnited

States134,523,103 16,446,674 0.46 0.46

Marston's PLCUnited

Kingdom39,163,628 4,788,110 0.5 0.5

Mars Engineering Corp Japan 54,251,648 6,632,758 1.31 1.31

Marui Group Co Ltd Japan 105,697,888 12,922,529 0.3 0.3

Marvelous Inc Japan 51,152,412 6,253,848 1.26 1.26

Massmart Holdings Ltd South Africa 237,084,312 28,985,715 1.18 1.18

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017106

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Master Ad PCL Thailand 33,491,522 4,094,643 1.92 1.92

Matas A/S Denmark 121,245,892 14,823,414 3.06 3.06

Matsumotokiyoshi Holdings Co Ltd Japan 767,601,009 93,846,211 2.09 2.09

Matsuya Co Ltd Japan 37,412,556 4,574,026 0.62 0.62

Matsuya Foods Co Ltd Japan 83,082,154 10,157,550 1.44 1.44

Matthews International CorpUnited

States174,778,091 21,368,213 1.26 1.26

Max's Group Inc Philippines 83,182,108 10,169,770 2.51 2.51

MARR SpA Italy 365,765,162 44,718,121 2.6 2.6

MBM Resources BHD Malaysia 11,015,505 1,346,746 0.63 0.63

McDonald's CorpUnited

States10,115,142,518 1,236,668,258 0.9 0.9

McKesson CorpUnited

States2,290,204,914 279,998,400 0.86 0.86

Mediaset Espana Comunicacion SA Spain 619,515,445 75,741,403 2.04 2.04

Mediaset SpA Italy 445,651,046 54,484,897 1.19 1.19

Media Asia Group Holdings Ltd Hong Kong 5,874,739 718,240 1.38 1.38

Media Nusantara Citra Tbk PT Indonesia 60,424,958 7,387,501 0.55 0.55

Media Prima Bhd Malaysia 10,632,387 1,299,906 0.62 0.62

Megacable Holdings SAB de CV Mexico 35,297,466 4,315,437 0.12 0.12

MegaStudyEdu Co Ltd South Korea 13,669,872 1,671,266 1.35 1.35

MegaStudy Co Ltd South Korea 13,147,312 1,607,379 1.36 1.36

Meiko Network Japan Co Ltd Japan 33,117,501 4,048,916 1.23 1.23

Mei Ah Entertainment Group Ltd Hong Kong 3,018,930 369,092 0.16 0.16

Melco International Development Ltd Hong Kong 345,841,286 42,282,246 0.94 0.94

Melco Resorts And Entertainment

Philippines CorpPhilippines 142,390,173 17,408,495 2.06 2.06

Melia Hotels International SA Spain 864,042,760 105,637,093 3.23 3.23

MercadoLibre IncUnited

States810,496,082 99,090,525 0.71 0.71

Mercuries & Associates Holding Ltd Taiwan 83,706,333 10,233,861 1.58 1.58

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017107

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Meredith CorpUnited

States123,849,790 15,141,764 0.25 0.51

Merlin Entertainments PLCUnited

Kingdom567,354,284 69,364,226 1.39 1.39

Metcash Ltd Australia 331,730,847 40,557,116 1.7 1.7

Metropole Television SA France 777,387,901 95,042,748 2.91 2.91

Metro Holdings Ltd/Singapore Singapore 6,057,805 740,622 0.11 0.11

Metro Inc Canada 687,835,490 84,094,150 1.15 1.15

METRO AG Germany 547,509,291 66,937,995 0.93 0.92

MGM China Holdings Ltd Hong Kong 401,953,156 49,142,433 0.43 0.43

MGM Resorts InternationalUnited

States827,162,884 101,128,193 0.53 0.53

Michaels Cos Inc/TheUnited

States548,578,653 67,068,734 1.53 1.53

Midland IC&I Ltd Hong Kong 1,421,705 173,816 0.19 0.19

Migros Ticaret AS Turkey 115,931,133 14,173,636 1.1 1.1

Millennium & Copthorne Hotels PLCUnited

Kingdom32,244,966 3,942,241 0.15 0.15

Ministop Co Ltd Japan 49,310,007 6,028,597 0.95 0.95

Minor International PCL Thailand 496,817,371 60,740,447 0.98 0.98

Mitchells & Butlers PLCUnited

Kingdom134,787,485 16,478,997 1.02 1.02

Mitra Adiperkasa Tbk PT Indonesia 175,546,073 21,462,106 2.83 2.83

Mitsui Matsushima Co Ltd Japan 24,765,895 3,027,856 1.6 1.6

MK Restaurants Group PCL Thailand 428,708,652 52,413,536 2.16 2.16

Modern Times Group MTG AB Sweden 236,478,535 28,911,654 0.61 1.01

Modetour Network Inc South Korea 68,306,472 8,351,088 1.55 1.55

Moneysupermarket.com Group PLCUnited

Kingdom548,777,770 67,093,078 2.6 2.6

Monogatari Corp/The Japan 6,544,351 800,107 0.14 0.14

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017108

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Monro IncUnited

States112,385,542 13,740,156 0.74 0.74

Morningstar IncUnited

States228,270,608 27,908,160 0.68 0.68

Moss Bros Group PLCUnited

Kingdom1,790,247 218,874 0.18 0.18

Movida Participacoes SA Brazil 14,776,387 1,806,548 0.4 0.4

MOS Food Services Inc Japan 100,209,051 12,251,469 1.25 1.25

Mr Bricolage France 2,730 334 0

Mr Price Group Ltd South Africa 897,422,885 109,718,118 1.33 2.06

MSG Networks IncUnited

States230,211,028 28,145,394 0.7 1.85

MTR Corp Ltd Hong Kong 799,005,431 97,685,688 0.28 0.28

Multiplus SA Brazil 22,520,546 2,753,342 0.16 0.16

Murphy USA Inc United

States

190,300,658 23,265,988 0.83 0.83

Myer Holdings Ltd Australia 85,436,032 10,445,333 2.46 2.46

Mynews Holdings Bhd Malaysia 25,689,829 3,140,815 1.29 1.29

MySale Group PLC Australia 53,711,794 6,566,756 2.97 2.97

Nafco Co Ltd Japan 12,344,247 1,509,197 0.29 0.29

NagaCorp Ltd Hong Kong 264,564,351 32,345,400 0.96 0.96

Nagoya Railroad Co Ltd Japan 430,879,535 52,678,946 1.13 1.13

Nankai Electric Railway Co Ltd Japan 145,433,471 17,780,566 0.63 0.63

Naspers Ltd South Africa 12,036,337,519 1,471,551,837 0.39 1.2

National CineMedia IncUnited

States104,015,891 12,716,890 2.36 2.36

National Express Group PLCUnited

Kingdom422,853,254 51,697,660 1.96 1.96

National Vision Holdings IncUnited

States13,449,628 1,644,340 0.05 0.05

Nation Media Group PLC Kenya 6,800,150 831,380 0.39 0.39

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017109

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Navitas Ltd Australia 186,629,284 22,817,129 1.49 1.49

NetEnt AB Sweden 198,492,098 24,267,466 0.65 1.46

Netflix IncUnited

States5,257,637,044 642,793,993 0.77 0.77

Netshoes Cayman Ltd Brazil 2,189,349 267,668 0.11 0.11

Neuca SA Poland 73,855,113 9,029,460 2.5 2.5

NewOcean Energy Holdings Ltd Hong Kong 29,720,338 3,633,582 0.94 0.94

News CorpUnited

States610,443,008 74,632,215 0.75 0.78

New Media Investment Group IncUnited

States188,768,561 23,078,675 2.58 2.58

New Oriental Education & Technology

Group IncChina 927,853,539 113,438,542 0.76 0.76

New World Department Store China Ltd Hong Kong 15,538,637 1,899,740 0.53 0.53

New York Times Co/TheUnited

States194,060,461 23,725,658 0.79 0.79

Nexstar Media Group Inc United

States123,326,769 15,077,820 0.42 0.42

Next PLCUnited

Kingdom1,452,688,184 177,604,355 1.99 1.99

NH Hotel Group SA Spain 399,931,798 48,895,303 1.94 1.94

Nielsen Holdings PLCUnited

States711,435,862 86,979,511 0.67 0.67

Nien Made Enterprise Co Ltd Taiwan 132,526,703 16,202,596 0.52 0.52

Nihon Chouzai Co Ltd Japan 31,400,753 3,839,028 0.79 0.79

Nine Entertainment Co Holdings Ltd Australia 113,963,037 13,933,019 1.33 1.33

Nippon Television Holdings Inc Japan 37,061,886 4,531,153 0.1 0.1

Nishimatsuya Chain Co Ltd Japan 57,885,237 7,076,997 0.91 0.91

Nishimoto Co Ltd Japan 68,209,896 8,339,281 1.42 1.42

Nishi-Nippon Railroad Co Ltd Japan 187,841,146 22,965,290 1.07 1.07

Nissan Tokyo Sales Holdings Co Ltd Japan 25,689,475 3,140,772 1.31 1.31

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017110

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nitori Holdings Co Ltd Japan 1,175,320,938 143,693,685 0.88 0.88

Nojima Corp Japan 73,450,561 8,980,000 0.74 0.74

Nordstrom IncUnited

States694,611,936 84,922,633 1.08 1.08

North West Co Inc/The Canada 237,751,282 29,067,259 2.49 2.49

Norwegian Cruise Line Holdings LtdUnited

States616,972,804 75,430,542 0.62 0.62

Novus Holdings Ltd South Africa 1,003,906 122,737 0.07 0.07

NOS SGPS SA Portugal 980,097,485 119,825,840 3.53 3.53

NS Shopping Co Ltd South Korea 23,299,823 2,848,615 0.56 0.56

NZME Ltd Australia 20,843,330 2,548,287 2.09 2.09

N Brown Group PLCUnited

Kingdom205,955,236 25,179,903 2.43 2.43

oOh!media Ltd Australia 68,858,832 8,418,619 1.46 1.46

Ocado Group PLCUnited

Kingdom315,069,640 38,520,132 1.15 1.15

Odakyu Electric Railway Co Ltd Japan 459,355,748 56,160,422 0.71 0.71

Office Depot IncUnited

States284,488,716 34,781,335 1.9 1.9

Ohsho Food Service Corp Japan 115,842,537 14,162,805 1.27 1.27

Okuwa Co Ltd Japan 30,790,369 3,764,403 0.8 0.8

Ollie's Bargain Outlet Holdings IncUnited

States111,826,255 13,671,778 0.42 0.42

Olympic Entertainment Group AS Estonia 34,647,977 4,236,031 1.28 1.28

Omnicom Group IncUnited

States1,139,516,684 139,316,289 0.83 0.83

Only World Group Holdings Bhd Malaysia 4,362,763 533,387 0.69 0.69

Ootoya Holdings Co Ltd Japan 2,480,597 303,276 0.22 0.22

Open Door Inc Japan 46,571,831 5,693,830 0.8 0.8

Oponeo.pl SA Poland 9,754,299 1,192,552 0.73 0.73

OPAP SA Greece 505,410,274 61,791,007 1.54 1.54

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017111

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Orascom Development Egypt Egypt 33,451,878 4,089,797 1.44 1.44

Organizacion Soriana SAB de CV Mexico 310,603,762 37,974,138 1.04 1.04

Oriental Land Co Ltd/Japan Japan 935,616,616 114,387,649 0.4 0.4

OrotonGroup Ltd Australia 193,370 23,641 0.17 0.17

Otsuka Kagu Ltd Japan 33,744,810 4,125,610 2.84 2.84

Outfront Media IncUnited

States286,393,822 35,014,252 1.09 1.09

OUE Ltd Singapore 28,452,803 3,478,614 0.28 0.28

O'Reilly Automotive IncUnited

States1,490,483,413 182,225,166 0.89 0.89

Paddy Power Betfair PLCUnited

Kingdom1,514,026,057 185,103,469 1.85 1.85

Panorama Sentrawisata Tbk PT Indonesia 6,373,263 779,189 1.6 1.6

Papa John's International IncUnited

States53,926,300 6,592,981 0.34 0.34

Paradise Co Ltd South Korea 1,193,507 145,917 0.01 0.01

Parco Co Ltd Japan 131,270,657 16,049,033 1.15 1.15

Paris Miki Holdings Inc Japan 15,816,677 1,933,733 0.82 0.82

Park24 Co Ltd Japan 445,678,524 54,488,257 1.55 1.55

Parkland Fuel Corp Canada 422,154,034 51,612,174 1.84 1.84

Parkson Retail Group Ltd Hong Kong 29,666,296 3,626,975 1.2 1.2

Parques Reunidos Servicios Centrales

SAUSpain 208,942,713 25,545,149 1.77 1.77

PAL GROUP Holdings Co Ltd Japan 25,960,450 3,173,901 0.44 0.44

PChome Online Inc Taiwan 56,609,270 6,920,999 1.28 1.28

PC Depot Corp Japan 25,465,492 3,113,388 0.77 0.77

Pearson PLCUnited

Kingdom1,142,628,206 139,696,700 1.75 1.75

Pembangunan Jaya Ancol Tbk PT Indonesia 7,322,203 895,206 0.58 0.58

Pendragon PLCUnited

Kingdom100,447,421 12,280,612 2.24 2.24

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017112

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Penn National Gaming IncUnited

States437,628,674 53,504,089 1.87 1.87

Penske Automotive Group IncUnited

States44,023,027 5,382,216 0.13 0.13

Perennial Real Estate Holdings Ltd Singapore 23,835,297 2,914,082 0.27 0.27

Perfect World Co Ltd/China China 64,177,030 7,846,226 0.12 0.12

Performance Food Group CoUnited

States440,247,306 53,824,241 1.55 1.55

Petronas Dagangan Bhd Malaysia 288,413,890 35,261,224 0.59 0.59

Pets at Home Group PlcUnited

Kingdom366,964,432 44,864,743 3.76 3.76

Philippine Seven Corp Philippines 127,283,730 15,561,595 0.9 0.9

Phoenix Satellite Television Holdings

LtdChina 34,867,805 4,262,907 0.6 0.6

Phumelela Gaming & Leisure Ltd South Africa 33,676,379 4,117,244 2.84 2.84

Phu Nhuan Jewelry JSC Vietnam 23,015,435 2,813,846 0.43 0.43

Pick n Pay Stores Ltd South Africa 20,718,026 2,532,967 0.09 0.09

Pierre & Vacances SA France 420,873 51,456 0.01 0.01

Pier 1 Imports IncUnited

States13,561,021 1,657,958 0.48 0.48

Pilbara Minerals Ltd Australia 66,547,828 8,136,078 0.57 0.57

Pinnacle Entertainment IncUnited

States281,272,588 34,388,135 1.83 1.83

PIA Corp Japan 4,083,358 499,228 0.05 0.05

Planet Fitness IncUnited

States73,615,490 9,000,164 0.26 0.26

Plan B Media Pcl Thailand 92,929,703 11,361,502 1.64 1.64

Playtech PlcUnited

Kingdom634,502,982 77,573,766 2.1 2.1

Plenus Co Ltd Japan 130,498,538 15,954,634 1.65 1.65

Poh Kong Holdings Bhd Malaysia 7,175,170 877,230 1.41 1.41

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017113

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Poly Culture Group Corp Ltd China 8,249,704 1,008,601 0.2 0.2

Portico International Holdings Ltd Hong Kong 2,315,195 283,054 0.15 0.15

Pou Sheng International Holdings Ltd Hong Kong 71,084,330 8,690,706 1.13 1.13

Poya International Co Ltd Taiwan 58,466,951 7,148,117 0.59 0.59

Praxis Home Retail Ltd India 715,302 87,452 0

Premium Brands Holdings Corp Canada 173,478,483 21,209,324 0.86 0.86

President Chain Store Corp Taiwan 638,506,346 78,063,214 0.79 0.79

Prestige International Inc Japan 50,145,056 6,130,690 0.75 0.75

Priceline Group Inc/TheUnited

States5,765,455,944 704,879,476 0.83 0.83

PriceSmart IncUnited

States67,615,686 8,266,633 0.32 0.32

Prime Car Management SA Poland 5,095,474 622,968 0.64 0.64

ProSiebenSat.1 Media SE Germany 807,471,145 98,720,698 1.23 1.23

Proto Corp Japan 7,612,742 930,727 0.31 0.31

Providence Service Corp/TheUnited

States16,987,692 2,076,900 0.26 0.26

Publicis Groupe SA France 2,224,630,666 271,981,351 1.55 1.73

Qantas Airways Ltd Australia 1,439,043,407 175,936,157 2.56 2.56

Qianhai Health Holdings Ltd Hong Kong 289,246 35,363 0.02 0.02

QMS Media Ltd Australia 6,356,087 777,089 0.31 0.31

Qol Co Ltd Japan 73,946,753 9,040,664 1.24 1.24

Raffles Education Corp Ltd Singapore 3,720,153 454,823 0.24 0.24

Raia Drogasil SA Brazil 563,173,826 68,853,127 0.75 0.75

Rakuten Inc Japan 555,065,270 67,861,782 0.52 0.52

Rallye SA France 10,608,473 1,296,982 0.09 0.14

Ramayana Lestari Sentosa Tbk PT Indonesia 111,232,564 13,599,194 2.17 2.17

Rami Levy Chain Stores Hashikma

Marketing 2006 LtdIsrael 127,301,731 15,563,796 2.17 2.17

Rank Group PLCUnited

Kingdom194,480,643 23,777,029 1.86 1.86

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017114

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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RAI Way SpA Italy 279,004,322 34,110,818 2.06 2.06

Realcan Pharmaceutical Co Ltd China 28,044,206 3,428,659 0.11 0.11

Red Robin Gourmet Burgers IncUnited

States83,621,248 10,223,459 1.4 1.4

Red Rock Resorts IncUnited

States75,267,852 9,202,180 0.05 0.23

Regal Entertainment GroupUnited

States138,978,709 16,991,412 0.2 0.47

Regis CorpUnited

States146,293,954 17,885,768 2.5 2.5

Reject Shop Ltd/The Australia 28,809,756 3,522,255 2.78 2.78

Relia Inc Japan 24,413,170 2,984,732 0.37 0.37

Rent-A-Center Inc/TXUnited

States92,754,953 11,340,137 1.92 1.92

Resorttrust Inc Japan 117,650,831 14,383,885 0.58 0.58

Restaurant Brands International Inc Canada 909,427,116 111,185,744 0.38 0.38

Restaurant Brands New Zealand LtdNew

Zealand13,488,772 1,649,125 0.26 0.26

Restaurant Group PLC/TheUnited

Kingdom187,746,621 22,953,734 2.8 2.8

Retail Food Group Ltd Australia 39,816,269 4,867,901 1.38 1.38

RELX NV Netherlands 5,193,379,492 634,937,922 2.76 2.76

RELX PLCUnited

Kingdom2,297,533,288 280,894,361 1.12 1.12

RHUnited

States19,731,982 2,412,414 0.13 0.13

Rightmove PLCUnited

Kingdom832,073,485 101,728,559 1.83 1.83

Right On Co Ltd Japan 8,604,327 1,051,957 0.42 0.42

Ringer Hut Co Ltd Japan 26,915,107 3,290,617 0.56 0.56

Ripley Corp SA Chile 49,061,677 5,998,237 0.29 0.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017115

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Riso Kyoiku Co Ltd Japan 3,100,631 379,080 0.09 0.09

Rite Aid CorpUnited

States90,580,236 11,074,258 0.53 0.53

Rizzoli Corriere Della Sera Mediagroup

SpAItaly 10,098,443 1,234,627 0.16 0.16

Robinsons Retail Holdings Inc Philippines 324,911,251 39,723,358 1.49 1.49

Robinson PCL Thailand 14,125,755 1,727,002 0.07 0.07

Roku IncUnited

States23,634,063 2,889,479 0.01 0.06

Rollins IncUnited

States314,185,605 38,412,050 0.38 0.38

Ross Stores IncUnited

States2,306,805,984 282,028,032 0.92 0.92

Roularta Media Group NV Belgium 3,063,933 374,594 0.11 0.11

Round One Corp Japan 277,685,592 33,949,592 2.11 2.11

Royal Caribbean Cruises LtdUnited

States1,342,393,751 164,119,857 0.64 0.64

Royal Holdings Co Ltd Japan 151,952,932 18,577,629 1.68 1.68

RS PCL Thailand 200,209,139 24,477,390 2.85 2.85

RTL Group SA Germany 744,124,896 90,976,043 0.73 0.73

Rubicon Project Inc/TheUnited

States4,046,409 494,710 0.53 0.53

Rush Enterprises IncUnited

States363,779,160 44,475,314 0.43 2.2

Ruth's Hospitality Group IncUnited

States30,225,577 3,695,352 0.55 0.55

Ryanair Holdings PLC Ireland 348,510,893 42,608,629 0.2 0.2

Ryohin Keikaku Co Ltd Japan 713,596,535 87,243,673 1 1

Sabre CorpUnited

States94,605,695 11,566,407 0.21 0.21

Sac's Bar Holdings Inc Japan 47,217,393 5,772,756 1.56 1.56

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017116

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Safeway IncUnited

States17,410,238 2,128,560 1.78

Sagami Chain Co Ltd Japan 19,404,148 2,372,334 0.71 0.71

Saga Falabella SA Peru 9,788,311 1,196,710 0.2 0.2

Saga PLCUnited

Kingdom250,731,874 30,654,254 1.61 1.61

Saizeriya Co Ltd Japan 253,340,928 30,973,235 1.77 1.77

Sally Beauty Holdings IncUnited

States300,355,234 36,721,162 1.54 1.54

Sands China Ltd Hong Kong 1,608,379,380 196,639,021 0.47 0.47

Sankyo Co Ltd Japan 194,212,625 23,744,261 0.84 0.84

Sanoma OYJ Finland 318,491,427 38,938,476 1.82 1.82

Sanyo Electric Railway Co Ltd Japan 19,672,552 2,405,149 0.43 0.43

San-A Co Ltd Japan 62,483,625 7,639,192 0.49 0.49

Sasbadi Holdings Bhd Malaysia 12,167,129 1,487,542 2.52 2.52

Sa Sa International Holdings Ltd Hong Kong 80,763,879 9,874,119 0.85 0.85

SACI Falabella Chile 344,008,679 42,058,193 0.17 0.17

SAS AB Sweden 259,203,536 31,689,992 2.14 2.17

SBS Media Holdings Co Ltd South Korea 18,094,571 2,212,226 0.55 0.55

Scandic Hotels Group AB Sweden 123,561,835 15,106,559 0.96 0.96

Scholastic CorpUnited

States178,175,530 21,783,581 1.56

Scientific Games CorpUnited

States184,837,445 22,598,060 0.49 0.49

Scripps Networks Interactive IncUnited

States762,509,886 93,223,775 0.85

SeaLink Travel Group Ltd Australia 7,078,730 865,439 0.27 0.27

Seibu Holdings Inc Japan 479,005,415 58,562,773 0.9 0.9

Selcuk Ecza Deposu Ticaret ve Sanayi

A.S.Turkey 12,262,872 1,499,248 0.25 0.25

Senshukai Co Ltd Japan 39,522,001 4,831,924 1.61 1.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017117

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Seobu T&D South Korea 911,104 111,391 0.02 0.02

Septeni Holdings Co Ltd Japan 63,591,667 7,774,660 1.81 1.81

Seria Co Ltd Japan 148,269,502 18,127,296 0.4 0.4

ServiceMaster Global Holdings IncUnited

States731,003,340 89,371,813 1.29 1.29

Service Corp International/USUnited

States396,547,901 48,481,591 0.69 0.69

Ser Educacional SA Brazil 64,446,427 7,879,162 0.6 0.6

Seven Group Holdings Ltd Australia 207,434,247 25,360,725 0.67 0.67

Seven West Media Ltd Australia 59,200,105 7,237,752 1 1

Seven & i Holdings Co Ltd Japan 3,438,585,028 420,398,324 1.14 1.14

SES SA France 895,987,829 109,542,669 1.22 1.22

SG Fleet Group Ltd Australia 60,616,867 7,410,964 0.91 0.91

Shakey's Pizza Asia Ventures Inc Philippines 77,239,446 9,443,225 2.29 2.29

Shandong Airlines Co Ltd China 54,980,820 6,721,906 0.87 0.87

Shanghai Bailian Group Co Ltd China 81,229,769 9,931,079 0.4 0.4

Shanghai Jinjiang International Hotels

Development Co LtdChina 74,922,631 9,159,974 0.37 0.37

Shanghai Jin Jiang International Hotels

Group Co LtdChina 47,345,622 5,788,433 0.3 0.3

Shanghai New Culture Media Group Co

LtdChina 75,901,933 9,279,702 0.98 0.98

Shangri-La Asia Ltd Hong Kong 322,561,382 39,436,065 0.48 0.48

Shaw Communications Inc Canada 657,694,339 80,409,120 0.7

Sheng Siong Group Ltd Singapore 127,009,610 15,528,081 1.49 1.49

Shimachu Co Ltd Japan 266,550,851 32,588,268 2.36 2.36

Shimamura Co Ltd Japan 783,345,731 95,771,147 2.36 2.36

Shinsegae Inc South Korea 95,591,989 11,686,991 0.42 0.42

Shochiku Co Ltd Japan 213,767,688 26,135,046 1.1 1.1

Shoprite Holdings Ltd South Africa 1,567,744,903 191,671,087 1.81 1.81

Shufersal Ltd Israel 157,659,537 19,275,314 1.23 1.23

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017118

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Shun Tak Holdings Ltd Hong Kong 78,994,598 9,657,809 0.81 0.81

Shutterfly IncUnited

States352,571,223 43,105,042 2.64 2.64

Sigma Healthcare Ltd Australia 123,628,683 15,114,732 1.84 1.84

Signet Jewelers LtdUnited

States338,563,807 41,392,508 1.21 1.21

Sinclair Broadcast Group IncUnited

States201,667,430 24,655,679 0.2 0.64

Singapore Airlines Ltd Singapore 698,237,119 85,365,844 0.9 0.9

Singapore Press Holdings Ltd Singapore 237,698,645 29,060,823 0.92 0.92

Sirius XM Holdings IncUnited

States769,323,380 94,056,787 0.38 0.38

SiteOne Landscape Supply IncUnited

States127,155,053 15,545,863 0.51 0.51

Sixt SE Germany 644,155,307 78,753,851 1.34 2.27

Six Flags Entertainment CorpUnited

States378,984,057 46,334,251 0.83 0.83

SJM Holdings Ltd Hong Kong 333,639,172 40,790,426 0.81 0.81

SkiStar AB Sweden 116,349,344 14,224,767 1.33 1.88

Skylark Co Ltd Japan 475,897,784 58,182,836 2.08 2.08

Sky PLCUnited

Kingdom2,579,543,323 315,372,655 1.34 1.34

SKYCITY Entertainment Group LtdNew

Zealand224,382,809 27,432,841 1.38 1.38

SKY Network Television LtdNew

Zealand126,718,254 15,492,460 1.99 1.99

SKY Perfect JSAT Holdings Inc Japan 68,525,307 8,377,843 0.53 0.53

Smiles Fidelidade SA Brazil 107,370,403 13,127,009 0.46 0.46

SMI Holdings Group Ltd China 19,280,469 2,357,213 0.17 0.17

SMU SA Chile 37,733,230 4,613,231 0.32 0.32

SM Entertainment Co South Korea 115,885,038 14,168,001 2.01 2.01

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017119

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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SM Investments Corp Philippines 575,069,262 70,307,453 0.29 0.29

Sodexo SA France 2,219,167,494 271,313,429 0.93 1.34

Sogo Medical Co Ltd Japan 92,210,787 11,273,608 1.39 1.39

Sonae SGPS SA Portugal 296,278,655 36,222,763 1.34 1.34

Sonic Automotive IncUnited

States6,700,058 819,143 0.03 0.1

Sonic CorpUnited

States99,556,279 12,171,661 1.13 1.13

Sotetsu Holdings Inc Japan 192,806,250 23,572,319 0.91 0.91

Sotheby'sUnited

States118,903,715 14,537,062 0.54 0.54

Southern Cross Media Group Ltd Australia 155,696,295 19,035,290 2.67 2.67

Southwest Airlines CoUnited

States1,485,185,735 181,577,477 0.47 0.47

SpartanNash CoUnited

States210,519,095 25,737,876 2.61 2.61

Specialty Fashion Group Ltd Australia 1,552,762 189,839 0.94 0.94

Speedway Motorsports IncUnited

States99,168,550 12,124,258 1.57 1.57

Spirit Airlines IncUnited

States29,956,469 3,662,451 0.12 0.12

Spir Communication SA France 997,410 121,942 0.28 0.46

Sportech PLCUnited

Kingdom47,073,496 5,755,163 2.87 2.87

Sports Direct International PLCUnited

Kingdom401,490,158 49,085,827 1.77 1.77

Springland International Holdings Ltd Hong Kong 35,082,174 4,289,115 0.8 0.8

Sprouts Farmers Market IncUnited

States353,539,457 43,223,417 1.33 1.33

SP Plus CorpUnited

States26,943,064 3,294,035 0.39 0.39

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017120

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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SRP Groupe SA France 38,654,339 4,725,845 1.79 1.79

SSI Group Inc Philippines 19,009,450 2,324,078 1.06 1.06

SSP Group PlcUnited

Kingdom1,348,231,665 164,833,595 3.75 3.75

Stagecoach Group PLCUnited

Kingdom 153,877,319 18,812,903 1.47 1.47

Stamps.com IncUnited

States230,425,475 28,171,612 0.86 0.86

Starbucks CorpUnited

States5,440,303,082 665,126,579 0.81 0.81

Stars Group Inc/The Canada 223,098,817 27,275,861 0.79 0.79

Start Today Co Ltd Japan 405,156,268 49,534,042 0.52 0.52

Star Entertainment Grp Ltd/The Australia 627,069,785 76,664,990 1.95 1.95

Steinhoff Africa Retail Ltd South Africa 102,240,575 12,499,841 0.28 0.28

Stitch Fix IncUnited

States15,845,446 1,937,250 0.01 0.08

Stockmann OYJ Abp Finland 10,486,121 1,282,024 0.07 0.34

Strayer Education IncUnited

States160,927,188 19,674,814 1.89 1.89

Stroeer SE & Co KGaA Germany 197,607,603 24,159,328 0.59 0.59

Studio Alice Co Ltd Japan 91,453,546 11,181,029 2.57 2.57

St Marc Holdings Co Ltd Japan 96,083,218 11,747,048 1.87 1.87

STV Group PLCUnited

Kingdom11,754,317 1,437,072 0.83 0.83

Sugi Holdings Co Ltd Japan 69,889,331 8,544,607 0.26 0.26

Summerset Group Holdings LtdNew

Zealand128,501,641 15,710,495 1.79 1.79

Sundrug Co Ltd Japan 489,625,099 59,861,126 0.96 0.96

Suning Commerce Group Co Ltd China 131,385,592 16,063,085 0.09 0.09

Sun Art Retail Group Ltd Hong Kong 527,095,514 64,442,225 0.64 0.64

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017121

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sun International Ltd/South Africa South Africa 167,761,825 20,510,410 3.85 3.85

Sun TV Network Ltd India 944,275,687 115,446,299 1.89 1.89

Superior Plus Corp Canada 270,405,348 33,059,516 2.44 2.44

Super Retail Group Ltd Australia 141,993,940 17,360,052 1.36 1.36

Surfstitch Group Ltd Australia 83,095 10,159 1.37 1.37

Surya Citra Media Tbk PT Indonesia 329,601,875 40,296,830 1.51 1.51

Sushiro Global Holdings Ltd Japan 206,629,653 25,262,356 2.17 2.17

SUPERVALU IncUnited

States 110,129,183 13,464,295 1.62 1.62

Synergetic Auto Performance Co Ltd Thailand 24,291,841 2,969,899 1.9 1.9

Sysco CorpUnited

States2,335,422,403 285,526,650 0.9 0.9

S&T AG Austria 34,081,244 4,166,742 0.3 0.3

tronc IncUnited

States53,481,848 6,538,643 1.11 1.11

Tabcorp Holdings Ltd Australia 732,703,595 89,579,685 1.02 1.02

Tailored Brands IncUnited

States55,584,058 6,795,657 0.63 0.63

Takashimaya Co Ltd Japan 303,559,765 37,112,945 0.99 0.99

Takeaway.com NV Netherlands 66,230,392 8,097,268 0.31 0.31

Takkt AG Germany 404,252,449 49,423,542 3.33 3.33

Tallink Grupp AS Estonia 33,944,383 4,150,010 0.41 0.41

Tallinna Kaubamaja Grupp AS Estonia 9,125,750 1,115,706 0.25 0.25

Taptica international Ltd Israel 94,870,383 11,598,768 2.96 2.96

Target CorpUnited

States3,005,826,849 367,489,697 1.04 1.04

TAL Education Group China 604,202,697 73,869,280 0.1 0.5

Technicolor SA France 289,979,971 35,452,691 2.48 2.48

Telenet Group Holding NV Belgium 1,704,861,773 208,434,872 2.54 2.54

Television Broadcasts Ltd Hong Kong 115,697,535 14,145,077 0.9 0.9

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017122

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Television Francaise 1 France 315,761,899 38,604,767 1.25 1.25

Ten Network Holdings Ltd Australia 138 17 0.58 0.58

Tesco PLCUnited

Kingdom9,770,652,813 1,194,551,256 5.15 5.15

Texas Roadhouse IncUnited

States317,384,892 38,803,192 1.04 1.04

TEGNA IncUnited

States498,752,934 60,977,087 2.01 2.01

Thai Airways International PCL Thailand 42,977,065 5,254,337 0.45 0.45

Thomas Cook Group PLCUnited

Kingdom505,086,931 61,751,475 2.42 2.42

Thomas Cook India Ltd India 103,105,320 12,605,564 0.86 0.86

Thomson Reuters Corp Canada 1,440,377,935 176,099,315 0.57 0.57

Thorn Group Ltd Australia 15,542,859 1,900,256 1.93 1.93

Tiffany & CoUnited

States1,226,173,465 149,910,869 1.16 1.16

Time IncUnited

States193,318,060 23,634,893 1.29 1.29

Time Warner IncUnited

States4,669,249,288 570,858,233 0.8 0.8

TJX Cos Inc/TheUnited

States3,625,128,008 443,204,901 0.92 0.92

Tobu Railway Co Ltd Japan 451,637,625 55,216,811 0.79 0.79

Toei Co Ltd Japan 92,046,329 11,253,502 0.75 0.75

Tohokushinsha Film Corp Japan 16,919,295 2,068,538 0.6 0.6

Toho Co Ltd/Kobe Japan 14,282,386 1,746,152 0.62 0.62

Toho Co Ltd/Tokyo Japan 508,579,009 62,178,414 0.95 0.95

Tokyotokeiba Co Ltd Japan 56,515,749 6,909,565 0.63 0.63

Tokyo Broadcasting System Holdings

IncJapan 208,967,847 25,548,222 0.54 0.54

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017123

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Tokyo Dome Corp Japan 91,961,595 11,243,142 1.16 1.16

Tokyo Individualized Educational

Institute IncJapan 4,048,136 494,921 0.11 0.11

Tokyu Corp Japan 555,002,760 67,854,140 0.68 0.68

Topps Tiles PLCUnited

Kingdom19,063,156 2,330,644 1.12 1.12

Toridoll Holdings Corp Japan 167,817,168 20,517,177 1.27 1.27

Torikizoku Co Ltd Japan 76,713,987 9,378,983 2.37 2.37

Tosho Co Ltd Japan 28,411,714 3,473,591 0.28 0.28

Total Produce PLC Ireland 106,789,052 13,055,934 1.32 1.32

Tractor Supply CoUnited

States251,785,720 30,783,097 0.33 0.33

TradeDoubler AB Sweden 1,661,267 203,105 1.15 1.15

Trade Me Group LtdNew

Zealand157,544,421 19,261,240 1.41 1.41

Travelport Worldwide LtdUnited

States292,249,309 35,730,139 2.18 2.18

Trent Ltd India 168,366,038 20,584,281 1.17 1.17

Tribune Media CoUnited

States357,983,456 43,766,737 1.18 1.18

Trinity Ltd Hong Kong 12,015,451 1,468,998 0.87 0.87

Trinity Mirror PLCUnited

Kingdom14,386,621 1,758,895 0.6 0.6

TripAdvisor IncUnited

States165,629,064 20,249,661 0.23 0.42

Trivago NV Germany 35,850,680 4,383,072 2.07 0.18

Truworths International Ltd South Africa 608,794,996 74,430,731 2.21 2.21

Tsogo Sun Holdings Ltd South Africa 535,288,881 65,443,939 2.9 2.9

Tsukada Global Holdings Inc Japan 9,400,240 1,149,265 0.41 0.41

Tsuruha Holdings Inc Japan 536,937,391 65,645,484 0.98 0.98

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017124

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Tsutsumi Jewelry Co Ltd Japan 19,917,272 2,435,068 0.62 0.62

Turk Hava Yollari AO Turkey 896,638,625 109,622,235 1.92 1.92

TUI AGUnited

Kingdom1,943,294,332 237,585,423 1.95 1.95

Tv Tokyo Holdings Corp Japan 66,365,930 8,113,839 1.3 1.3

TV18 Broadcast Ltd India 339,122,490 41,460,812 2.51 2.51

TV Asahi Holdings Corp Japan 30,602,749 3,741,465 0.17 0.17

TV Azteca SAB de CV Mexico 6,620,794 809,452 0.15 0.15

Twenty-First Century Fox IncUnited

States4,127,570,489 504,633,069 1.52 0.8

UBM PLCUnited

Kingdom425,232,992 51,988,605 1.31 1.31

Ukai Co Ltd Japan 5,608,246 685,659 0.45 0.45

Ulta Beauty IncUnited

States857,903,192 104,886,475 0.77 0.77

United Arrows Ltd Japan 126,861,062 15,509,920 1.26 1.26

United Continental Holdings IncUnited

States481,726,095 58,895,401 0.29 0.29

United International Transportation CoSaudi

Arabia84,718,199 10,357,571 2

United Natural Foods IncUnited

States322,029,727 39,371,066 1.59 1.59

United Super Markets Holdings Inc Japan 76,014,493 9,293,464 0.69 0.69

Universal Entertainment Corp Japan 204,539,653 25,006,835 0.85 0.85

Universal Health International Group

Holding LtdChina 3,145,220 384,532 0.63 0.63

Urban Outfitters IncUnited

States476,733,752 58,285,041 1.54 1.54

USS Co Ltd Japan 495,893,422 60,627,485 0.91 0.91

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017125

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Vail Resorts IncUnited

States553,444,440 67,663,621 0.79 0.79

Valora Holding AG Switzerland 403,397,023 49,318,958 3.71 3.71

Valor Holdings Co Ltd Japan 121,291,284 14,828,964 1.2 1.2

ValueCommerce Co Ltd Japan 14,854,033 1,816,041 0.8 0.8

Vector Inc Japan 211,952,257 25,913,093 3.82 3.82

Vertu Motors PLCUnited

Kingdom19,285,362 2,357,811 0.89 0.89

VGI Global Media PCL Thailand 233,460,970 28,542,729 1.97 1.97

Viacom IncUnited

States613,099,806 74,957,033 0.6

Via Varejo SA Brazil 76,375,212 9,337,565 0.29 0.1

Vietjet Aviation JSC Vietnam 213,443,951 26,095,466 0.89 0.89

Vifor Pharma AG Switzerland 788,495,516 96,400,755 1.16 1.16

Village Roadshow Ltd Australia 29,214,697 3,571,763 0.73 0.73

Vipshop Holdings Ltd China 428,173,294 52,348,083 0.34 3.78

Virgin Australia Holdings Ltd Australia 24,591,090 3,006,485 0.16 0.33

Vita Group Ltd Australia 23,708,843 2,898,622 1.68 1.68

Vivendi SA France 4,930,986,689 602,858,013 1.48 1.73

Vocento SA Spain 64,832,227 7,926,330 3.45 3.45

Voyageurs du Monde France 728,937 89,119 0.02 0.02

VT Holdings Co Ltd Japan 66,725,349 8,157,781 1.37 1.37

Walgreens Boots Alliance IncUnited

States4,935,987,174 603,469,368 0.84 0.84

Walt Disney Co/TheUnited

States12,123,291,432 1,482,182,745 0.91 0.91

Wanda Film Holding Co Ltd China 48,099,027 5,880,544 0.06 0.06

Warehouse Group Ltd/TheNew

Zealand38,983,825 4,766,128 0.93 0.93

Wash House Co Ltd Japan 13,907,915 1,700,369 1.06 1.06

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017126

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Watts Co Ltd Japan 12,222,628 1,494,328 0.96 0.96

WATAMI Co Ltd Japan 25,271,947 3,089,726 0.51 0.51

Webjet Ltd Australia 82,832,552 10,127,034 1.04 1.04

Weight Watchers International IncUnited

States164,146,142 20,068,360 0.7 0.7

Weis Markets IncUnited

States69,092,963 8,447,244 0.76 0.76

Welcia Holdings Co Ltd Japan 333,561,246 40,780,899 0.9 0.9

Wendy's Co/TheUnited

States234,867,487 28,714,688 0.72 0.72

Wesfarmers Ltd Australia 3,006,298,182 367,547,321 0.98 0.98

West Japan Railway Co Japan 1,293,176,771 158,102,633 1.12 1.12

Whitbread PLCUnited

Kingdom1,450,124,994 177,290,982 1.79 1.79

WH Smith PLCUnited

Kingdom840,024,121 102,700,596 2.94 2.94

Wilcon Depot Inc Philippines 101,337,222 12,389,398 1.82 1.82

Williams-Sonoma IncUnited

States401,582,039 49,097,060 1.13 1.13

William Hill PLCUnited

Kingdom922,768,816 112,816,888 3.02 3.02

Wisdom Sports Group China 3,737,004 456,883 0.28 0.28

Wizz Air Holdings PlcUnited

Kingdom785,970,941 96,092,103 2.66 1.88

Wm Morrison Supermarkets PLC

United

Kingdom 1,165,268,088 142,464,632 2.03 2.03

Wolters Kluwer NV Netherlands 2,510,727,649 306,959,312 2.03 2.03

Woolworths Group Ltd Australia 833,716,977 101,929,490 0.52 0.52

Woongjin Thinkbig Co Ltd South Korea 31,245,600 3,820,059 1.67 1.67

Workman Co Ltd Japan 5,916,142 723,302 0.05 0.05

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017127

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Workpoint Entertainment PCL Thailand 250,238,147 30,593,892 2.7 2.7

Wowow Inc Japan 90,686,880 11,087,297 1.3 1.3

Wowprime Corp Taiwan 23,514,258 2,874,832 0.83 0.83

WPP AUNZ Ltd Australia 46,237,057 5,652,901 0.92 0.92

WPP PLCUnited

Kingdom3,743,823,152 457,716,463 1.99 1.99

Wyndham Worldwide CorpUnited

States941,935,421 115,160,180 0.98 0.98

Wynn Macau Ltd Hong Kong 683,837,727 83,605,388 0.51 0.51

Wynn Resorts LtdUnited

States369,412,825 45,164,081 0.26 0.26

X5 Retail Group NV Russia 1,325,197,320 162,017,437 1.58 1.58

Xebio Holdings Co Ltd Japan 81,408,055 9,952,876 1.09 1.09

Xinhua Winshare Publishing and Media

Co LtdChina 92,305,042 11,285,132 1.15 1.15

Yakuodo Co Ltd Japan 35,657,754 4,359,485 0.79 0.79

Yamada Denki Co Ltd Japan 556,504,484 68,037,739 1.28 1.28

Yamashita Health Care Holdings Inc Japan 2,742,039 335,239 0.94 0.94

Yaoko Co Ltd Japan 100,236,062 12,254,771 0.63 0.63

Yellow Hat Ltd Japan 108,089,835 13,214,966 1.75 1.75

Yelp IncUnited

States233,699,282 28,571,865 0.82 0.82

YG Entertainment Inc South Korea 59,312,663 7,251,513 1.48 1.48

Ymagis SA France 16,547,968 2,023,140 2.1 2.52

Yomiuri Land Co Ltd Japan 18,078,941 2,210,315 0.6 0.6

Yondoshi Holdings Inc Japan 97,032,850 11,863,149 1.53 1.53

Yonghui Superstores Co Ltd China 849,529,566 103,862,723 0.7 0.7

Yoox Net-A-Porter Group SpA Italy 443,215,013 54,187,070 1.7 1.16

Yoshinoya Holdings Co Ltd Japan 102,758,293 12,563,137 1.14 1.14

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017128

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Yum China Holdings IncUnited

States1,165,381,385 142,478,484 0.93 0.93

Yum! Brands IncUnited

States2,125,970,771 259,919,281 0.95 0.95

Zalando SE Germany 669,035,138 81,795,636 0.64 0.64

Zeal Network SE Germany 13,378,134 1,635,599 0.76 0.76

Zee Entertainment Enterprises Ltd India 96,397,267 11,785,443 0.13 0.13

Zenrin Co Ltd Japan 165,054,051 20,179,360 1.57 1.57

Zensho Holdings Co Ltd Japan 266,785,144 32,616,913 1.27 1.27

Zhejiang Huace Film & TV Co Ltd China 45,638,675 5,579,744 0.19 0.19

Zhejiang Semir Garment Co Ltd China 33,964,830 4,152,510 0.13 0.13

Zoe's Kitchen IncUnited

States11,732,395 1,434,392 0.44 0.44

ZPG PLCUnited

Kingdom153,814,337 18,805,203 0.96 0.96

Zyle Daewoo Motor Sales Corp South Korea 8,138 995 0

FINANCIALS

1st Source CorpUnited

States134,441,808 16,436,735 1.28 1.28

3i Group PLCUnited

Kingdom1,759,807,078 215,152,436 1.79 1.79

77 Bank Ltd/The Japan 232,532,189 28,429,177 1.47 1.47

alstria office REIT-AG Germany 513,269,548 62,751,875 2.63 2.63

Aareal Bank AG Germany 697,351,997 85,257,630 3.14 3.14

Abacus Property Group Australia 146,213,442 17,875,924 0.96 0.96

Abu Dhabi Commercial Bank PJSCUnited Arab

Emirates37,446,979 4,578,234 0.05 0.05

Abu Dhabi Islamic Bank/Egypt Egypt 19,734,830 2,412,763 1.38 1.38

ABC arbitrage France 24,555,385 3,002,119 0.69 0.69

ABN AMRO Group NV Netherlands 2,766,157,218 338,187,902 1.11 1.11

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017129

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Acadia Realty TrustUnited

States210,277,665 25,708,359 1.12 1.12

Access Bank PLC Nigeria 31,887,311 3,898,514 0.46 0.46

Ackermans & van Haaren NV Belgium 679,470,449 83,071,448 1.42 1.42

Acom Co Ltd Japan 94,234,423 11,521,016 0.17 0.17

Activia Properties Inc Japan 11,994,928 1,466,489 0.05 0.05

Aditya Birla Capital Ltd India 9,611,560 1,175,101 0.02 0.02

Admiral Group PLCUnited

Kingdom1,303,174,515 159,324,948 2.05 2.05

ADO Properties SA Germany 406,986,284 49,757,778 2.22 2.22

Aedifica SA Belgium 380,888,673 46,567,108 2.74 2.74

Aegon NV Netherlands 1,540,856,534 188,383,739 1.1 1.1

Aeon Mall Co Ltd Japan 274,238,322 33,528,131 0.75 0.75

AEON Financial Service Co Ltd Japan 316,728,355 38,722,925 0.74 0.74

AEON REIT Investment Corp Japan 11,847,859 1,448,509 0.08 0.08

AEON Thana Sinsap Thailand PCL Thailand 169,037,195 20,666,336 2.6 2.6

AET&D Holdings No 1 Pty Ltd Australia 2 0

Affiliated Managers Group IncUnited

States246,986,761 30,196,380 0.26 0.26

Aflac IncUnited

States3,655,434,131 446,910,101 1.29 1.29

Africa Israel Properties Ltd Israel 27,325,991 3,340,851 0.47 0.47

Africa Israel Residences Ltd Israel 623,724 76,256 0.03 0.03

Ageas Belgium 2,003,723,162 244,973,398 2.39 2.39

Agile Group Holdings Ltd China 120,466,952 14,728,182 0.25 0.25

Agricultural Bank of China Ltd China 753,365,283 92,105,764 0.06 0.06

AGNC Investment CorpUnited

States469,533,898 57,404,794 0.73 0.73

Aichi Bank Ltd/The Japan 46,187,369 5,646,826 1.09 1.09

Aiful Corp Japan 105,003,213 12,837,599 0.77 0.77

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017130

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Airport City Ltd Israel 97,042,582 11,864,339 0.72 0.72

Airport Facilities Co Ltd Japan 19,053,637 2,329,481 0.72 0.72

Aizawa Securities Co Ltd Japan 13,099,768 1,601,566 0.47 0.47

AIA Group Ltd Hong Kong 12,409,518,124 1,517,176,563 1.47 1.47

AIB Group PLC Ireland 1,109,546,505 135,652,161 0.76 0.76

AIMS AMP Capital Industrial REIT Singapore 27,270,192 3,334,029 0.48 0.48

Akbank Turk AS Turkey 1,172,788,025 143,384,013 1.38 1.38

Akita Bank Ltd/The Japan 77,476,268 9,472,179 1.9 1.9

Alantra Partners SA Spain 36,938,470 4,516,064 0.75 0.75

Alawwal BankSaudi

Arabia125,772,228 15,376,800 0.43

Aldar Properties PJSCUnited Arab

Emirates237,131,667 28,991,505 0.62 0.62

Aldermore Group PLCUnited

Kingdom394,159,253 48,189,557 3.33 3.33

Alexander Forbes Group Holdings Ltd South Africa 188,595,598 23,057,529 3.08 3.08

Alexander & Baldwin IncUnited

States135,020,096 16,507,436 1.21 1.21

Alexander's IncUnited

States130,071,967 15,902,482 0.79 0.79

Alexandria Real Estate Equities IncUnited

States723,804,600 88,491,702 0.7 0.7

Aliansce Shopping Centers SA Brazil 212,940,996 26,033,975 2.36 2.36

Alior Bank SA Poland 449,125,124 54,909,635 1.86 1.86

Allahabad Bank India 25,229,992 3,084,596 0.33 0.33

Alleghany CorpUnited

States724,991,367 88,636,795 0.97 0.97

Alliance Bank Malaysia Bhd Malaysia 57,052,743 6,975,217 0.45 0.45

Allianz Malaysia Bhd Malaysia 48,075,661 5,877,687 1.01 1.01

Allianz SE Germany 16,523,022,176 2,020,089,882 1.9 1.9

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017131

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Allied Minds PLCUnited

Kingdom10,874,535 1,329,511 0.25 0.25

Allied Properties Real Estate Investment

TrustCanada 240,247,752 29,372,475 0.94 0.94

Allreal Holding AG Switzerland 535,662,434 65,489,609 2.44 2.44

Allstate Corp/TheUnited

States1,566,004,943 191,458,361 0.51 0.51

Ally Financial IncUnited

States 1,236,332,244 151,152,872 1.17 1.17

Alm Brand A/S Denmark 495,414,965 60,568,990 2.63 2.63

Alony Hetz Properties & Investments Ltd Israel 18,553,175 2,268,295 0.12 0.12

Alpha Bank AE Greece 524,209,076 64,089,332 1.93 1.93

Altamir France 20,003,876 2,445,656 0.37 0.37

Altarea SCA France 400,606 48,978 0

Altisource Residential CorpUnited

States126,635,094 15,482,293 2.44 2.44

Al Rajhi BankSaudi

Arabia1,184,329,731 144,795,091 0.52

Amata Corp PCL Thailand 110,271,591 13,481,706 1.58 1.58

American Assets Trust IncUnited

States183,423,543 22,425,198 1.24 1.24

American Campus Communities IncUnited

States472,634,431 57,783,862 1.03 1.03

American Equity Investment Life Holding

Co

United

States323,873,852 39,596,527 1.45 1.45

American Express CoUnited

States5,508,778,106 673,498,274 0.78 0.78

American Financial Group Inc/OHUnited

States794,234,355 97,102,380 1.02 1.02

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017132

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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American Homes 4 RentUnited

States383,905,213 46,935,907 0.68 0.75

American International Group IncUnited

States6,175,635,566 755,027,669 1.41 1.41

American National Insurance CoUnited

States235,408,555 28,780,839 0.83 0.83

American Tower CorpUnited

States3,432,565,474 419,662,378 0.69 0.69

Ameriprise Financial IncUnited

States6,996,137,721 855,341,527 3.41 3.41

Ameris BancorpUnited

States89,987,923 11,001,843 0.61 0.61

Amot Investments Ltd Israel 110,433,018 13,501,442 0.69 0.69

AmTrust Financial Services IncUnited

States82,934,380 10,139,483 0.51 0.51

Amundi SA France 1,128,226,432 137,935,952 0.81 0.81

AMMB Holdings Bhd Malaysia 27,537,622 3,366,725 0.1 0.1

AMP Ltd Australia 1,055,461,765 129,039,809 1.09 1.09

Anabuki Kosan Inc Japan 2,383,662 291,424 0.19 0.19

Anadolu Hayat Emeklilik AS Turkey 133,825,313 16,361,363 1.75 1.75

Ananda Development PCL Thailand 26,431,673 3,231,513 0.33 0.54

Andhra Bank India 7,987,158 976,503 0.12 0.12

Anicom Holdings Inc Japan 128,059,792 15,656,475 2.7 2.7

Anima Holding SpA Italy 466,219,028 56,999,521 2.58 2.58

Annaly Capital Management IncUnited

States1,015,925,089 124,206,091 0.9 0.9

AntarChile SA Chile 546,620,005 66,829,272 0.83 0.83

Anworth Mortgage Asset CorpUnited

States72,871,172 8,909,164 1.67 1.67

Aomori Bank Ltd/The Japan 46,217,066 5,650,457 0.87 0.87

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017133

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Aon PLCUnited

States2,367,873,861 289,494,136 0.86 0.86

Aozora Bank Ltd Japan 301,933,413 36,914,108 0.8 0.8

Apartment Investment & Management

Co

United

States498,544,699 60,951,628 0.89 0.43

Aplus Financial Co Ltd Japan 247,595 30,271 0

Apollo Commercial Real Estate Finance

Inc

United

States171,776,856 21,001,284 1.06 1.06

Apollo Investment CorpUnited

States10,619,592 1,298,342 0.11 0.11

Apple Hospitality REIT IncUnited

States341,490,299 41,750,298 0.95 0.95

APRIL SA France 11,072,496 1,353,713 0.12 0.19

Arab Bank PLC Jordan 40,465,729 4,947,304 0.1 0.1

Arab National BankSaudi

Arabia28,023,531 3,426,132 0.05

Arch Capital Group LtdUnited

States753,061,683 92,068,646 0.78 0.78

Ardent Leisure Group Australia 97,724,675 11,947,731 1.61 1.61

Arena REIT Australia 41,748,288 5,104,108 1.06 1.06

Argosy Property LtdNew

Zealand100,046,532 12,231,599 1.92 1.92

Argo Group International Holdings LtdUnited

States382,768,323 46,796,912 2.56 2.56

Arrow Financial CorpUnited

States12,891,986 1,576,163 0.33 0.33

Arthur J Gallagher & CoUnited

States675,478,839 82,583,437 0.72 0.72

Artisan Partners Asset Management IncUnited

States216,120,474 26,422,695 0.54 0.89

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017134

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Artis Real Estate Investment Trust Canada 165,980,740 20,292,657 1.21 1.21

Aruhi Corp Japan 21,515,720 2,630,493 0.62 0.62

ARGAN SA France 15,637,052 1,911,772 0.25 0.25

ARMOUR Residential REIT IncUnited

States125,255,804 15,313,662 1.42 1.42

Asax Co Ltd Japan 2,230,447 272,692 0.15 0.15

Ascendas Hospitality Trust Singapore 86,434,736 10,567,433 1.45 1.45

Ascendas India Trust Singapore 84,248,039 10,300,090 1.28 1.28

Ascendas Real Estate Investment Trust Singapore 488,182,093 59,684,705 1.02 1.02

Ascott Residence Trust Singapore 184,215,169 22,521,981 1.15 1.15

Ashford Hospitality Trust IncUnited

States100,444,307 12,280,231 1.87 1.87

Ashmore Group PLCUnited

Kingdom441,372,166 53,961,765 1.38 1.38

Ashtrom Properties Ltd Israel 19,550,089 2,390,176 0.53 0.53

Aspen Group Australia 5,947,102 727,087 0.87 0.87

Aspen Insurance Holdings LtdUnited

States378,928,695 46,327,483 1.92 1.92

Assicurazioni Generali SpA Italy 5,315,583,308 649,878,451 2.28 2.28

Associated Banc-CorpUnited

States349,856,506 42,773,143 1.11 1.11

Assurant IncUnited

States490,299,123 59,943,531 1.1 1.1

Assura PLCUnited

Kingdom360,462,544 44,069,828 2.15 2.15

Assured Guaranty LtdUnited

States382,985,907 46,823,514 1.18 1.18

Astro Japan Property Group Australia 1,061,168 129,737 2.28 2.28

ASR Nederland NV Netherlands 1,702,781,194 208,180,503 3.44 3.44

ASX Ltd Australia 796,141,068 97,335,493 1.17 1.17

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017135

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Athene Holding LtdUnited

States481,822,644 58,907,205 0.6

Atrium European Real Estate Ltd Austria 37,878,360 4,630,974 0.25 0.25

Atrium Ljungberg AB Sweden 181,418,733 22,180,092 0.82 1.05

Attijariwafa Bank Morocco 95,578,725 11,685,369 0.11 0.11

Australian Finance Group Ltd Australia 8,342,312 1,019,924 0.37 0.37

Australia & New Zealand Banking Group

LtdAustralia 7,679,763,632 938,921,018 1.42 1.42

AUB Group Ltd Australia 10,282,486 1,257,127 0.19 0.19

AURELIUS Equity Opportunities SE &

Co KGaAGermany 15,262,851 1,866,022 0.09 0.09

AU Small Finance Bank Ltd India 747,593 91,400 0

AvalonBay Communities IncUnited

States1,777,505,469 217,316,226 0.88 0.88

Avanza Bank Holding AB Sweden 108,284 13,239 0

Aventus Retail Property Fund Ltd Australia 54,765,481 6,695,579 0.76 0.76

Aveo Group Australia 203,276,089 24,852,352 2.04 2.04

AvivaSA Emeklilik ve Hayat AS Turkey 56,538,318 6,912,324 1.23 1.23

Aviva PLCUnited

Kingdom5,687,353,127 695,330,696 2.53 2.53

Awa Bank Ltd/The Japan 163,873,146 20,034,984 1.39 1.39

Axiare Patrimonio SOCIMI SA Spain 8,112,132 991,782 0.06 0.06

Axis Bank Ltd India 935,148,308 114,330,394 0.5 0.5

Axis Capital Holdings LtdUnited

States604,497,065 73,905,269 1.77 1.77

AXA Cooperative Insurance CoSaudi

Arabia56,191,550 6,869,928 2.87

AXA SA France 9,362,598,422 1,144,662,891 1.35 1.59

Ayala Land Inc Philippines 1,194,618,640 146,053,004 1.11 1.11

Azimut Holding SpA Italy 603,849,984 73,826,158 2.69 2.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017136

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Azrieli Group Ltd Israel 238,918,866 29,210,006 0.43 0.43

B3 SA - Brasil Bolsa Balcao Brazil 1,129,621,951 138,106,567 0.98 0.98

Bajaj Finance Ltd India 62,246,464 7,610,197 0.05 0.05

Bajaj Finserv Ltd India 78,195,002 9,560,051 0.07 0.07

Bajaj Holdings & Investment Ltd India 45,541,797 5,567,899 0.11 0.11

Baloise Holding AG Switzerland 369,816,628 45,213,449 0.6 0.6

Balwin Properties Ltd South Africa 37,535,224 4,589,023 2.36 2.36

Banca Carige SpA Italy 0

Banca Farmafactoring SpA Italy 136,337,392 16,668,487 1.28 1.28

Banca Generali SpA Italy 481,078,332 58,816,206 1.51 1.51

Banca IFIS SpA Italy 449,427,112 54,946,556 2.09 2.09

Banca Mediolanum SpA Italy 468,384,905 57,264,319 0.89 0.89

Banca Popolare di Sondrio SCPA Italy 280,702,386 34,318,422 2.07 2.07

Banca Transilvania SA Romania 127,035,776 15,531,280 0.78 0.78

BancFirst CorpUnited

States115,207,580 14,085,176 0.86 0.86

Bancolombia SA Colombia 220,713,465 26,984,230 0.47 0.28

BancorpSouth BankUnited

States189,371,238 23,152,358 0.81 0.81

Banco ABC Brasil SA Brazil 17,820,199 2,178,682 0.21

Banco Bilbao Vizcaya Argentaria SA Spain 7,018,262,030 858,046,426 1.51 1.51

Banco BPI SA Portugal 26,797,496 3,276,238 0.16 0.16

Banco BPM SpA Italy 535,005,241 65,409,261 1.37 1.37

Banco Bradesco SA Brazil 3,967,269,382 485,034,799 0.14 0.78

Banco BTG Pactual SA Brazil 157,773,488 19,289,245 0.19

Banco Comercial Portugues SA Portugal 717,970,630 87,778,446 1.78 1.78

Banco del Bajio SA Mexico 190,409,224 23,279,261 1.06 1.06

Banco de Chile Chile 238,271,413 29,130,849 0.19 0.19

Banco de Credito e Inversiones Chile 347,946,227 42,539,594 0.49 0.49

Banco de Sabadell SA Spain 1,421,342,969 173,772,117 1.55 1.55

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017137

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Banco di Desio e della Brianza SpA Italy 551,892 67,474 0.02 0.02

Banco do Brasil SA Brazil 1,216,928,338 148,780,568 0.54 0.54

Banco do Estado do Rio Grande do Sul

SABrazil 102,360,767 12,514,536 0.68

Banco Popular SA Colombia 28,980,184 3,543,091 0.3 0.3

Banco Santander Brasil SA Brazil 89,620,034 10,956,865 0.02 0.02

Banco Santander Chile Chile 385,385,498 47,116,886 0.32 0.32

Banco Santander SA Spain 18,176,673,893 2,222,263,859 2.09 2.09

Bangkok Bank PCL Thailand 952,964,199 116,508,549 0.96 0.96

Bangkok Land PCL Thailand 29,292,181 3,581,236 0.35 0.35

Bangkok Life Assurance PCL Thailand 9,951,049 1,216,606 0.07 0.07

Bankia SA Spain 3,685,983,248 450,645,008 3.27 3.27

Bankinter SA Spain 1,146,240,002 140,138,275 1.64 1.64

BankNordik P/F Denmark 33,642,055 4,113,048 2.41 2.41

BankUnited IncUnited

States409,325,930 50,043,821 1.15 1.15

Bank BGZ BNP Paribas SA Poland 121,122,078 14,808,277 0.9 0.9

Bank Central Asia Tbk PT Indonesia 1,501,847,095 183,614,480 0.46 0.46

Bank CIMB Niaga Tbk PT Malaysia 272,391,054 33,302,286 1.33 1.33

Bank for Foreign Trade of Vietnam JSC Vietnam 306,909,567 37,522,489 0.44 0.44

Bank for Investment and Development of

Vietnam JSCVietnam 85,232,995 10,420,510 0.27 0.27

Bank Hapoalim BM Israel 563,581,104 68,902,921 0.7 0.7

Bank Leumi Le-Israel BM Israel 649,705,663 79,432,432 0.86 0.86

Bank Mandiri Persero Tbk PT Indonesia 2,486,579,601 304,006,993 1.1 1.1

Bank Millennium SA Poland 358,798,717 43,866,410 1.41 1.41

Bank Muscat SAOG Oman 208,449,058 25,484,795 0.92 0.92

Bank Negara Indonesia Persero Tbk PT Indonesia 198,767,331 24,301,116 0.18 0.18

Bank of America CorpUnited

States25,545,917,112 3,123,220,930 1.01 1.01

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017138

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Bank of Baroda India 208,568,909 25,499,448 0.44 0.44

Bank of China Ltd China 3,318,671,129 405,737,758 0.28 0.28

Bank of Chongqing Co Ltd China 27,376,208 3,346,991 0.13 0.13

Bank of Communications Co Ltd China 245,741,464 30,044,131 0.05 0.05

Bank of East Asia Ltd/The Hong Kong 395,307,521 48,329,943 0.4 0.4

Bank of Greece Greece 4,438,416 542,637 0.15 0.15

Bank of Hawaii CorpUnited

States280,610,326 34,307,167 0.94 0.94

Bank of India India 28,446,218 3,477,809 0.11 0.11

Bank of Ireland Group PLC Ireland 559,620,477 68,418,698 0.74 0.74

Bank of Iwate Ltd/The Japan 67,908,353 8,302,414 1.13 1.13

Bank of Kaohsiung Co Ltd Taiwan 18,827,609 2,301,847 0.74 0.74

Bank of Kyoto Ltd/The Japan 145,466,160 17,784,562 0.45 0.45

Bank of Montreal Canada 3,740,680,073 457,332,193 0.88 0.88

Bank of Nagoya Ltd/The Japan 47,165,115 5,766,365 0.75 0.75

Bank of New York Mellon Corp/TheUnited

States3,413,346,795 417,312,720 0.76 0.76

Bank of Ningbo Co Ltd China 98,691,177 12,065,895 0.09 0.09

Bank of Nova Scotia/The Canada 6,144,607,947 751,234,260 0.97 0.97

Bank of Okinawa Ltd/The Japan 105,580,587 12,908,188 1.31 1.31

Bank of Queensland Ltd Australia 252,769,649 30,903,391 0.79 0.79

Bank of Saga Ltd/The Japan 45,695,664 5,586,711 1.43 1.43

Bank of the OzarksUnited

States250,938,046 30,679,461 0.49 0.49

Bank of the Ryukyus Ltd Japan 101,918,133 12,460,420 2.15 2.15

Bank Pan Indonesia Tbk PT Indonesia 14,989,911 1,832,653 0.09 0.09

Bank Pekao SA Poland 935,287,746 114,347,442 1.17 1.17

Bank Pembangunan Daerah Jawa

Timur Tbk PTIndonesia 35,879,416 4,386,585 0.56 0.56

Bank Permata Tbk PT Indonesia 29,810,081 3,644,554 0.28 0.28

Bank Rakyat Indonesia Persero Tbk PT Indonesia 1,117,995,111 136,685,080 0.41 0.41

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017139

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Bank St Petersburg PJSC Russia 76,502,547 9,353,133 1.98 1.75

Bank Tabungan Negara Persero Tbk PT Indonesia 20,446,099 2,499,722 0.09 0.09

Bank Zachodni WBK SA Poland 184,716,966 22,583,331 0.2 0.2

Banner CorpUnited

States206,248,415 25,215,746 1.39 1.39

Banque Cantonale Vaudoise Switzerland 448,650,357 54,851,591 0.83 0.83

Banque Nationale de Belgique Belgium 2,777,628 339,590 0.02 0.02

Banque Saudi FransiSaudi

Arabia265,686,415 32,482,583 0.36

Banregio Grupo Financiero SAB de CV Mexico 362,822,561 44,358,361 2.47 2.47

Barclays Africa Group Ltd South Africa 1,270,715,417 155,356,528 1.25 1.25

Barclays PLCUnited

Kingdom10,391,298,923 1,270,430,893 2.71 2.71

Basellandschaftliche Kantonalbank Switzerland 6,430,266 786,159 0.04

Basler Kantonalbank Switzerland 57,963,325 7,086,544 0.23

Bayside Land Corp Israel 25,333,412 3,097,240 0.29 0.29

BAWAG Group AG Austria 733,549,077 89,683,053 1.68 1.68

BBI Development SA Poland 4,399,853 537,922 2.79 2.79

BBVA Banco Continental SA Peru 41,912,682 5,124,207 0.08 0.08

BB Seguridade Participacoes SA Brazil 906,028,337 110,770,212 0.64 0.64

BB&T CorpUnited

States2,645,077,843 323,384,846 0.82 0.82

BDO Unibank Inc Philippines 1,218,038,632 148,916,311 1.04 1.04

Beazley PLCUnited

Kingdom910,227,853 111,283,641 2.93 2.93

Befimmo SA Belgium 337,019,093 41,203,652 2.51 2.51

Beijing Capital Land Ltd China 58,631,374 7,168,219 0.46 0.46

Belle Corp Philippines 35,877,881 4,386,398 0.54 0.54

Bendigo & Adelaide Bank Ltd Australia 476,261,909 58,227,354 1.32 1.32

Beneficial Bancorp IncUnited

States208,292,891 25,465,702 2.04 2.04

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017140

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Berkshire Hathaway IncUnited

States26,739,899,193 3,269,196,109 0.79 0.52

BGC Partners IncUnited

States376,315,418 46,007,986 0.51 1.05

BGEO Group PLCUnited

Kingdom483,340,935 59,092,829 3.12 3.12

Big Shopping Centers Ltd Israel 49,491,345 6,050,768 0.64 0.64

Big Yellow Group PLCUnited

Kingdom441,348,561 53,958,879 2.89 2.89

BinckBank NV Netherlands 71,834,706 8,782,447 2.44 2.44

BIMB Holdings Bhd Malaysia 41,164,924 5,032,787 0.28 0.28

Blackhawk Network Holdings IncUnited

States208,970,133 25,548,501 1.26 1.26

BlackRock Capital Investment CorpUnited

States6,788,080 829,905 0.18 0.18

BlackRock IncUnited

States11,451,106,749 1,400,002,048 1.7 1.68

Blackstone Mortgage Trust IncUnited

States269,443,278 32,941,894 0.95 0.95

Black Knight IncUnited

States652,167,737 79,733,443 1.18 1.18

Bluegreen Vacations CorpUnited

States14,935,493 1,826,000 0.13 0.13

Blue Sky Alternative Investments Ltd Australia 13,086,333 1,599,923 0.2 0.2

BMCE Bank Morocco 88,019,069 10,761,132 0.26 0.26

BNK Financial Group Inc South Korea 185,705,085 22,704,137 0.79 0.79

BNP Paribas SA France 14,347,072,860 1,754,060,269 1.88 1.88

Boardwalk Real Estate Investment Trust Canada 58,528,144 7,155,598 0.41 0.41

BofI Holding IncUnited

States26,539,196 3,244,658 0.17 0.17

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017141

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Bolsas y Mercados Espanoles SHMSF

SASpain 343,658,087 42,015,330 1.58 1.58

Bolsa Mexicana de Valores SAB de CV Mexico 56,680,816 6,929,746 0.68 0.68

Bonava AB Sweden 273,237,296 33,405,747 1.07 2.2

Boston Private Financial Holdings IncUnited

States117,713,157 14,391,505 1.11 1.11

Boston Properties IncUnited

States7,776,532,747 950,751,924 4.74 4.74

BOC Hong Kong Holdings Ltd Hong Kong 2,833,650,206 346,439,534 0.65 0.65

BOK Financial CorpUnited

States125,215,109 15,308,687 0.25 0.25

BPER Banca Italy 596,823,523 72,967,109 3 3

Brack Capital Properties NV Israel 2,688,115 328,646 0.04 0.04

Bradespar SA Brazil 180,705,222 22,092,858 0.73

Brait SE South Africa 30,718,079 3,755,565 0.21 0.21

Brandywine Realty TrustUnited

States307,889,357 37,642,277 1.18 1.18

Brasil Brokers Participacoes SA Brazil 15,945,798 1,949,519 2.55 2.55

Brewin Dolphin Holdings PLCUnited

Kingdom376,065,505 45,977,432 3.08 3.08

Brigade Enterprises Ltd India 87,694,600 10,721,463 1.6 1.6

Brighthouse Financial IncUnited

States616,963,896 75,429,453 1.07 1.07

British Land Co PLC/TheUnited

Kingdom3,521,974,315 430,593,423 4.6 4.6

Brixmor Property Group IncUnited

States450,344,224 55,058,681 0.97 0.97

Brookfield Asset Management Inc Canada 2,748,712,280 336,055,100 0.78 0.78

Brookline Bancorp IncUnited

States110,157,509 13,467,758 1.12 1.12

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017142

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Brown & Brown IncUnited

States301,209,466 36,825,599 0.51 0.51

BRAC Bank Ltd Bangladesh 272,082,513 33,264,564 2.98 2.98

BRD-Groupe Societe Generale SA Romania 271,688,168 33,216,352 1.44 1.44

BR Malls Participacoes SA Brazil 459,046,500 56,122,614 1.68 1.68

BR Properties SA Brazil 37,668,706 4,605,342 0.35 0.35

BT Investment Management Ltd Australia 212,291,238 25,954,537 0.93 0.93

Bumi Serpong Damai Tbk PT Indonesia 231,148,013 28,259,949 1.17 1.17

Bupa Arabia for Cooperative Insurance

Co

Saudi

Arabia279,470,345 34,167,794 1.72

Bure Equity AB Sweden 126,241,495 15,434,172 1.86 1.86

Burford Capital LtdUnited

Kingdom99,118,718 12,118,166 0.37 0.37

Burgan Bank SAK Kuwait 25,429,113 3,108,941 0.14 0.14

Bursa de Valori Bucuresti SA Romania 1,123,060 137,304 0.25 0.25

Bursa Malaysia Bhd Malaysia 205,816,708 25,162,966 1.87 1.87

BUWOG AG Austria 816,686,717 99,847,386 2.58 2.58

BWP Trust Australia 105,092,622 12,848,530 0.83 0.83

comdirect bank AG Germany 65,385,099 7,993,924 0.41 0.41

Cache Logistics Trust Singapore 82,192,115 10,048,734 1.47 1.47

Cadence BanCorpUnited

States4,392,115 536,976 0.02 0.02

Caisse Regionale de Credit Agricole

Mutuel Brie PicardieFrance 466,658 57,053 0

Caisse Regionale de Credit Agricole

Mutuel de la Touraine et du PoitouFrance 3,733 456 0

Caisse Regionale de Credit Agricole

Mutuel de Normandie-SeineFrance 1,645,342 201,158 0.02 0.02

Caisse Regionale de Credit Agricole

Mutuel d'Ille-et-VilaineFrance 755,539 92,372 0.01 0.01

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017143

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Caisse Regionale de Credit Agricole

Mutuel Nord de FranceFrance 1,366,446 167,060 0.01

CaixaBank SA Spain 1,771,774,777 216,615,596 0.78 0.78

Camden Property TrustUnited

States467,218,090 57,121,665 0.67 0.67

Canadian Apartment Properties REIT Canada 258,038,292 31,547,530 0.78 0.78

Canadian Imperial Bank of Commerce Canada 3,069,682,204 375,296,595 0.87 0.87

Canadian Real Estate Investment Trust Canada 240,497,155 29,402,967 1.09 1.09

Canadian Solar Infrastructure Fund Inc Japan 34,867,497 4,262,869 2.73 2.73

Canadian Western Bank Canada 326,699,796 39,942,024 1.44 1.44

Canara Bank India 46,400,635 5,672,900 0.17 0.17

Candover Investments PLC/FundUnited

Kingdom8,189,324 1,001,219 2.95 2.95

Cannae Holdings IncUnited

States234,315,490 28,647,202 2.38 2.38

Capital First Ltd India 171,489,804 20,966,190 1.95 1.95

Capital One Financial CorpUnited

States3,448,881,577 421,657,170 0.87 0.87

Capital Securities Corp Taiwan 97,682,475 11,942,572 1.41 1.41

Capital Stage AG Germany 184,968,716 22,614,109 2.27 2.27

Capital & Counties Properties PLCUnited

Kingdom2,354,459,616 287,854,122 7.84 7.84

Capital & Regional PLCUnited

Kingdom8,953,624 1,094,662 0.19 0.19

CapitaLand Commercial Trust Singapore 380,216,473 46,484,925 0.89 0.89

CapitaLand Ltd Singapore 799,061,272 97,692,515 0.87 0.87

CapitaLand Mall Trust Singapore 425,797,709 52,057,646 0.92 0.92

CapitaLand Retail China Trust Singapore 66,114,065 8,083,046 0.69 0.69

Capitec Bank Holdings Ltd South Africa 232,389,324 28,411,710 0.28 0.28

Capitol Federal Financial IncUnited

States94,669,196 11,574,171 0.62 0.62

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017144

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Capstead Mortgage CorpUnited

States109,395,992 13,374,656 1.61 1.61

Carmila SA France 89,959,265 10,998,339 0.29 0.29

Carnival Group International Holdings

LtdChina 32,624,107 3,988,594 0.33 0.33

Castellum AB Sweden 767,776,406 93,867,655 2.06 2.06

Cathay Financial Holding Co Ltd Taiwan 1,472,103,609 179,978,068 0.8 0.8

Cathay General BancorpUnited

States239,312,538 29,258,136 0.86 0.86

Cathay Real Estate Development Co

LtdTaiwan 48,870,537 5,974,868 0.93 0.93

CA Immobilien Anlagen AG Austria 590,949,743 72,248,986 2.36 2.36

Cboe Global Markets IncUnited

States906,707,162 110,853,205 0.78 0.78

CBL Corp LtdNew

Zealand16,886,946 2,064,583 0.41 0.41

CBL & Associates Properties IncUnited

States83,578,202 10,218,196 1.06 1.06

CBo Territoria France 1,684,885 205,993 0.13 0.13

CBRE Group IncUnited

States1,017,661,036 124,418,326 0.85 0.85

CDL Hospitality Trusts Singapore 126,148,245 15,422,771 1.02 1.02

Cedar Realty Trust IncUnited

States12,174,262 1,488,414 0.27 0.27

Cedar Woods Properties Ltd Australia 29,493,246 3,605,818 0.96 0.96

Cembra Money Bank AG Switzerland 472,463,631 57,762,980 2.07 2.07

Centennial Resource Development

Inc/DE

United

States65,073,746 7,955,858 0.15 0.15

Central China Securities Co Ltd China 29,070,839 3,554,175 0.22 0.22

Central Pattana PCL Thailand 116,050,895 14,188,278 0.12 0.12

Centuria Industrial REIT Australia 25,890,648 3,165,367 0.63 0.63

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017145

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Chailease Holding Co Ltd Taiwan 357,421,865 43,698,077 1.19 1.19

Challenger Ltd/Australia Australia 603,922,423 73,835,014 1.1 1.1

Champion REIT Hong Kong 251,790,499 30,783,681 0.72 0.72

Chang Hwa Commercial Bank Ltd Taiwan 335,753,208 41,048,886 0.78 0.78

Charles Schwab Corp/TheUnited

States3,515,334,199 429,781,608 0.62 0.62

Charter Hall Group Australia 215,965,035 26,403,692 1.2 1.2

Charter Hall Long Wale REIT Australia 25,127,366 3,072,049 0.41 0.41

Charter Hall Retail REIT Australia 132,771,267 16,232,496 1.23 1.23

Chartwell Retirement Residences Canada 164,606,865 20,124,688 0.74 0.74

Chemical Financial CorpUnited

States273,302,105 33,413,670 0.88 0.88

Chesapeake Lodging Trust United

States

189,559,377 23,175,360 1.42 1.42

Chesnara PLCUnited

Kingdom163,207,325 19,953,581 2.53 2.53

Chiba Bank Ltd/The Japan 543,440,641 66,440,566 0.91 0.91

Chiba Kogyo Bank Ltd/The Japan 50,106,130 6,125,931 1.98 1.98

Chimera Investment CorpUnited

States283,261,207 34,631,261 1 1

China Baoli Technologies Holdings Ltd Hong Kong 35,943,317 4,394,398 0.84 0.84

China Bills Finance Corp Taiwan 72,223,540 8,829,985 1.27 1.27

China Cinda Asset Management Co Ltd China 347,657,770 42,504,327 0.3 0.3

China CITIC Bank Corp Ltd China 459,820,563 56,217,250 0.17 0.17

China Construction Bank Corp China 9,608,488,991 1,174,725,252 0.5 0.5

China Development Financial Holding

CorpTaiwan 535,463,829 65,465,328 1.28 1.28

China Everbright Bank Co Ltd China 94,131,843 11,508,475 0.05 0.05

China Everbright Ltd China 171,995,094 21,027,966 0.56 0.56

China Evergrande Group China 537,641,838 65,731,609 0.14 0.14

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017146

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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China Financial International

Investments LtdHong Kong 17,455,781 2,134,128 0.66 0.66

China Galaxy Securities Co Ltd China 303,601,466 37,118,043 0.5 0.5

China Huarong Asset Management Co

LtdChina 284,559,798 34,790,026 0.19 0.19

China International Capital Corp Ltd China 85,909,171 10,503,178 0.13 0.13

China Jinmao Holdings Group Ltd China 370,204,455 45,260,865 0.96 0.96

China Life Insurance Co Ltd China 1,914,098,026 234,015,909 0.26 0.26

China Life Insurance Co Ltd/Taiwan Taiwan 372,151,690 45,498,932 1.19 1.19

China LNG Group Ltd Hong Kong 6,930,113 847,269 0.09 0.09

China Medical & HealthCare Group Ltd Hong Kong 14,047,079 1,717,383 0.44 0.44

China Merchants Bank Co Ltd China 2,710,768,778 331,416,161 0.31 0.31

China Merchants Land Ltd China 18,065,238 2,208,640 0.24 0.24

China Merchants Securities Co Ltd China 73,977,777 9,044,457 0.09 0.09

China Merchants Shekou Industrial Zone

Holdings Co LtdChina 92,694,817 11,332,785 0.05 0.05

China Minsheng Banking Corp Ltd China 373,532,105 45,667,700 0.12 0.12

China Oceanwide Holdings Ltd Hong Kong 42,093,241 5,146,282 0.44 0.44

China Overseas Grand Oceans Group

LtdChina 54,737,328 6,692,137 0.54 0.54

China Overseas Land & Investment Ltd China 1,072,538,439 131,127,588 0.37 0.37

China Overseas Property Holdings Ltd China 38,977,957 4,765,410 0.53 0.53

China Pacific Insurance Group Co Ltd China 3,598,381,580 439,934,907 0.98 0.98

China Reinsurance Group Corp China 111,975,409 13,690,013 0.14 0.14

China Resources Land Ltd China 1,112,043,136 135,957,397 0.67 0.67

China SCE Property Holdings Ltd China 107,196,297 13,105,723 0.8 0.8

China Shandong Hi-Speed Financial

Group LtdHong Kong 1,104,123 134,989 0.01 0.01

China Soft Power Technology Holdings

LtdChina 18,051,833 2,207,001 1 1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017147

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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China Taiping Insurance Holdings Co

LtdChina 2,310,284,608 282,453,326 2.1 2.1

China Touyun Tech Group Ltd Hong Kong 5,180,542 633,368 0.18 0.18

China Vanke Co Ltd China 912,834,883 111,602,375 0.24 0.24

Chongqing Rural Commercial Bank Co

LtdChina 138,344,215 16,913,840 0.24 0.24

Chong Hing Bank Ltd Hong Kong 38,292,140 4,681,563 0.33 0.33

Chong Hong Construction Co Ltd Taiwan 82,894,319 10,134,585 1.36 1.36

Chuan Hup Holdings Ltd Singapore 22,600,883 2,763,164 1.35 1.35

Chubb LtdUnited

States3,531,292,119 431,732,609 0.64 0.64

Chugoku Bank Ltd/The Japan 223,032,905 27,267,803 1.04 1.04

Chukyo Bank Ltd/The Japan 17,974,399 2,197,534 0.49 0.49

Cielo SA Brazil 966,338,224 118,143,645 0.61 0.61

Cincinnati Financial CorpUnited

States797,220,366 97,467,447 0.79 0.79

Cinda International Holdings Ltd China 8,337,825 1,019,375 1.45 1.45

Ciputra Development Tbk PT Indonesia 399,409,025 48,831,389 3.01 3.01

Citigroup Inc United

States

16,944,574,539 2,071,628,496 1.05 1.05

Citizens Financial Group IncUnited

States1,772,982,981 216,763,310 1.05 1.05

Citycon OYJ Finland 282,878,648 34,584,490 1.5 1.5

City Bank Ltd/The Bangladesh 120,435,866 14,724,381 2.63 2.63

City Developments Ltd Singapore 635,271,658 77,667,743 0.91 0.91

City Holding CoUnited

States74,902,955 9,157,568 0.87 0.87

CIFI Holdings Group Co Ltd China 183,238,052 22,402,520 0.49 0.49

CIG Pannonia Life Insurance PLC Hungary 3,010,515 368,063 0.27 0.27

CIMB Group Holdings Bhd Malaysia 869,162,194 106,262,991 0.71 0.71

CITIC Securities Co Ltd China 842,483,572 103,001,286 0.34 0.34

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017148

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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CIT Group IncUnited

States578,831,223 70,767,387 1.1 1.1

CI Financial Corp Canada 607,539,325 74,277,213 1.13 1.13

CK Asset Holdings Ltd Hong Kong 2,653,395,591 324,401,767 1 1

Clal Insurance Enterprises Holdings Ltd Israel 49,134,043 6,007,084 0.6 0.6

Clipan Finance Indonesia Tbk PT Indonesia 19,292,728 2,358,712 2.87 2.87

Close Brothers Group PLCUnited

Kingdom700,332,823 85,622,063 2.89 2.89

CMC Markets PLCUnited

Kingdom235,781,323 28,826,413 4.93 4.93

CME Group IncUnited

States3,096,399,769 378,563,060 0.76 0.76

CNA Financial CorpUnited

States334,902,167 40,944,839 0.28 0.28

CNO Financial Group IncUnited

States553,260,589 67,641,144 1.63 1.63

CNP Assurances France 1,163,416,267 142,238,230 0.5 0.9

Coface SA France 323,717,847 39,577,454 2.35 2.35

Cofinimmo SA Belgium 594,695,460 72,706,934 2.58 2.58

Cohen & Steers IncUnited

States35,161,413 4,298,803 0.2 0.2

Collector AB Sweden 83,478,708 10,206,032 1 1

Colliers International Group Inc Canada 207,473,199 25,365,487 0.82 1.08

Colony NorthStar IncUnited

States531,918,389 65,031,866 1 1.04

Columbia Banking System IncUnited

States216,749,992 26,499,660 0.84 0.84

Columbia Property Trust IncUnited

States284,585,090 34,793,118 1.27 1.27

Comerica IncUnited

States1,065,127,314 130,221,511 0.86 0.86

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017149

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cominar Real Estate Investment Trust Canada 206,133,298 25,201,672 1.18 1.18

Commerce Bancshares Inc/MOUnited

States198,887,041 24,315,751 0.41 0.41

Commercial Bank of Ceylon PLC Sri Lanka 39,613,248 4,843,080 0.05 0.7

Commercial International Bank Egypt

SAEEgypt 391,346,462 47,845,668 0.95 0.95

Commerzbank AG Germany 1,668,048,317 203,934,092 1.08 1.08

Commonwealth Bank of Australia Australia 10,047,491,723 1,228,397,333 1.14 1.14

Community Bank System IncUnited

States62,710,698 7,666,954 0.28 0.28

Community Trust Bancorp IncUnited

States150,619,400 18,414,593 2.21 2.21

Concordia Financial Group Ltd Japan 840,308,047 102,735,309 1.32 1.32

Concord Securities Co Ltd Taiwan 14,697,693 1,796,927 0.95 0.95

Convoy Global Holdings Ltd Hong Kong 20,409,016 2,495,188 0.92 0.92

Conwert Immobilien Invest SE Austria 9 1 0

Corem Property Group AB Sweden 92,580,586 11,318,819 2.91 0.48

CoreSite Realty CorpUnited

States270,091,058 33,021,091 0.6 0.6

Coronation Fund Managers Ltd South Africa 199,761,294 24,422,637 1.17 1.17

Corporate Office Properties TrustUnited

States213,683,899 26,124,802 0.82 0.82

Corp Financiera Alba SA Spain 482,147,962 58,946,978 1.76 1.76

Corp Financiera Colombiana SA Colombia 28,856,348 3,527,951 0.17 0.16

Corp Inmobiliaria Vesta SAB de CV Mexico 35,838,387 4,381,569 0.56 0.56

Cosmos Initia Co Ltd Japan 12,367,939 1,512,093 0.82 0.82

Countrywide PLCUnited

Kingdom46,092,022 5,635,169 1.46 1.46

Country Garden Holdings Co Ltd China 913,305,119 111,659,865 0.28 0.28

Cousins Properties IncUnited

States333,828,259 40,813,544 1.05 1.05

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017150

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Co for Cooperative Insurance/TheSaudi

Arabia313,064,727 38,275,013 1.22

Credicorp Ltd Peru 83,909,155 10,258,658 0.06 0.06

Credito Emiliano SpA Italy 174,381,475 21,319,723 0.75 0.75

Credito Real SAB de CV SOFOM ER Mexico 38,215,513 4,672,194 0.95 0.95

Credito Valtellinese SpA Italy 1,929,487 235,897 0.15 0.15

Credit Acceptance CorpUnited

States189,186,651 23,129,790 0.37 0.37

Credit Agricole SA France 5,184,359,571 633,835,154 1.34 1.34

Credit Agricole Toulouse 31 France 2,125,383 259,847 0.05 0.05

Credit Corp Group Ltd Australia 195,295,662 23,876,673 2.87 2.87

Credit Saison Co Ltd Japan 214,183,615 26,185,897 0.78 0.78

Credit Suisse Group AG Switzerland 18,874,873,386 2,307,625,103 5.06 5.06

Cromwell Property Group Australia 139,858,947 17,099,029 1.11 1.11

Crown Castle International CorpUnited

States3,281,916,763 401,244,202 0.89 0.89

CR2 Empreendimentos Imobiliarios SA Brazil 5,267,557 644,007 2.98 2.98

CSC Financial Co Ltd China 281,752,904 34,446,857 3.09 0.54

CST Group Ltd Hong Kong 11,123,849 1,359,992 0.67 0.67

CTBC Financial Holding Co Ltd Taiwan 1,470,546,840 179,787,739 1.34 1.34

CubeSmartUnited

States366,458,306 44,802,864 0.86 0.86

Cullen/Frost Bankers IncUnited

States333,621,632 40,788,282 0.68 0.68

Curo Group Holdings Corp United

States9,789,046 1,196,800 0.19 0.19

CVB Financial CorpUnited

States62,143,087 7,597,558 0.29 0.29

CyrusOne IncUnited

States1,749,547,231 213,898,076 3.94 3.94

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017151

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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CYBG PLCUnited

Kingdom289,170,052 35,353,671 0.87 0.87

CYS Investments IncUnited

States141,527,587 17,303,036 1.39 1.39

C C Land Holdings Ltd China 52,057,839 6,364,545 0.74 0.74

doBank SpA Italy 77,850,006 9,517,872 0.73 0.73

Daejan Holdings PLCUnited

Kingdom110,436,474 13,501,864 1.01 1.01

Dah Sing Banking Group Ltd Hong Kong 88,720,058 10,846,835 0.36 0.36

Dah Sing Financial Holdings Ltd Hong Kong 244,343,858 29,873,261 1.39 1.39

Daibiru Corp Japan 113,435,129 13,868,477 0.94 0.94

Daikyo Inc Japan 82,285,451 10,060,145 0.62 0.62

Daisan Bank Ltd/The Japan 20,167,946 2,465,715 0.83 0.83

Daishin Securities Co Ltd South Korea 87,246,948 10,666,734 1.17 1.03

Daishi Bank Ltd/The Japan 158,379,222 19,363,302 1.23 1.23

Daito Bank Ltd/The Japan 22,376,479 2,735,728 1.48 1.48

Daito Trust Construction Co Ltd Japan 1,545,958,148 189,007,458 1.21 1.21

Daiwa Securities Group Inc Japan 1,345,204,706 164,463,522 1.54 1.54

Dai-ichi Life Holdings Inc Japan 2,468,327,160 301,775,466 1.22 1.22

Danske Bank A/S Denmark 5,620,443,245 687,150,354 1.88 1.88

Dat Xanh Real Estate Service &

Construction JSCVietnam 69,383,436 8,482,757 2.95 2.95

DBS Group Holdings Ltd Singapore 5,490,767,819 671,296,352 1.41 1.41

DB Financial Investment Co Ltd South Korea 8,885,795 1,086,369 0.68 0.68

DB Insurance Co Ltd South Korea 532,816,823 65,141,707 1.38 1.38

DCT Industrial Trust IncUnited

States372,695,144 45,565,374 0.83 0.83

DDR Corp United

States240,779,010 29,437,426 0.89 0.89

DeA Capital SpA Italy 34,326,441 4,196,720 0.84 0.84

Delek Group Ltd Israel 178,885,132 21,870,336 1.13 1.13

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017152

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Delta Holding SA Morocco 29,316,353 3,584,191 1.14 1.14

Derwent London PLCUnited

Kingdom2,113,271,699 258,366,704 5.5 5.5

Deutsche Bank AG Germany 3,802,404,740 464,878,596 1.18 1.18

Deutsche Beteiligungs AG Germany 201,984,724 24,694,471 2.91 2.91

Deutsche Boerse AG Germany 2,580,375,996 315,474,457 1.41 1.41

Deutsche EuroShop AG Germany 445,530,622 54,470,174 2.39 2.39

Deutsche Pfandbriefbank AG Germany 558,213,397 68,246,670 3.11 3.11

Deutsche Wohnen SE Germany 8,925,121,161 1,091,177,314 7.03 7.03

Dewan Housing Finance Corp Ltd India 100,024,145 12,228,862 0.43 0.43

Dexus Australia 833,788,782 101,938,269 1.31 1.31

DGB Financial Group Inc South Korea 194,423,243 23,770,011 1.43 1.43

DiamondRock Hospitality CoUnited

States237,598,527 29,048,583 1.28 1.28

Diamond Trust Bank Kenya Ltd Kenya 53,370,920 6,525,081 1.25 1.25

Digital Domain Holdings Ltd Hong Kong 126,177,551 15,426,354 2.85 2.85

Digital Realty Trust IncUnited

States1,357,028,858 165,909,132 0.71 0.7

Dime Community Bancshares IncUnited

States164,138,439 20,067,418 2.56 2.56

Direct Line Insurance Group PLCUnited

Kingdom1,460,819,353 178,598,465 2.52 2.52

Discount Investment Corp Ltd Israel 21,063,011 2,575,145 0.43 0.43

Discovery Ltd South Africa 235,583,931 28,802,280 0.3 0.3

Discover Financial ServicesUnited

States2,139,795,952 261,609,535 0.94 0.94

DIC Asset AG Germany 133,169,741 16,281,213 1.74 1.74

Douglas Emmett IncUnited

States496,505,889 60,702,365 0.87 0.87

Dream Office Real Estate Investment

TrustCanada 120,664,839 14,752,375 1.08 1.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017153

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Dubai Investments PJSCUnited Arab

Emirates79,164,519 9,678,583 0.35 0.35

Dubai Islamic Bank PJSCUnited Arab

Emirates107,812,762 13,181,092 0.16 0.16

Duke Realty CorpUnited

States750,985,704 91,814,839 0.95 0.95

D Carnegie & Co AB Sweden 122 15 0

eGuarantee Inc Japan 56,554,813 6,914,341 2.08 2.08

esure Group PLCUnited

Kingdom421,261,746 51,503,083 3.66 3.66

Eagle Bancorp IncUnited

States162,890,763 19,914,879 1.01 1.01

Eastern Bank Ltd Bangladesh 61,614,037 7,532,877 1.66 1.66

Eastern & Oriental Bhd Malaysia 29,184,844 3,568,113 0.77 0.77

EastGroup Properties IncUnited

States263,589,897 32,226,265 1.06 1.06

Eastnine AB Sweden 61,151,016 7,476,268 3.02 3.02

East West Bancorp IncUnited

States564,994,734 69,075,750 0.79 0.79

East West Banking Corp Philippines 86,647,453 10,593,440 1.1 1.1

Eaton Vance CorpUnited

States408,031,641 49,885,583 0.75

Eclipx Group Ltd Australia 210,281,392 25,708,815 2.54 2.54

ECN Capital Corp Canada 123,836,199 15,140,103 1.26 1.26

Edelweiss Financial Services Ltd India 416,766,938 50,953,552 1.2 1.2

Education Realty Trust IncUnited

States207,931,473 25,421,516 0.96 0.96

EFG International AG Switzerland 355,972,658 43,520,898 1.35 1.35

Egyptian Financial Group-Hermes

Holding CoEgypt 105,653,286 12,917,076 1.59 1.59

Egyptian Gulf Bank Egypt 12,938,038 1,581,793 0.55 0.55

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017154

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Egypt Kuwait Holding Co SAE Egypt 118,693,546 14,511,367 1.67 1.67

Ehime Bank Ltd/The Japan 66,398,818 8,117,860 1.73 1.73

Eighteenth Bank Ltd/The Japan 75,192,657 9,192,987 2.06 2.06

Emaar Development PJSCUnited Arab

Emirates45,389,600 5,549,292 0.1 0.1

Emaar Malls PJSCUnited Arab

Emirates12,433,332 1,520,088 0.02 0.02

Emaar Properties PJSCUnited Arab

Emirates565,275,919 69,110,127 0.51 0.51

Emirates NBD PJSCUnited Arab

Emirates94,886,846 11,600,781 0.09 0.09

Emperor Capital Group Ltd Hong Kong 46,390,296 5,671,636 1.15 1.15

Empire State Realty Trust IncUnited

States230,387,213 28,166,934 0.65 0.86

Employers Holdings IncUnited

States307,740,813 37,624,116 2.61 2.61

EML Payments Ltd Australia 13,379,367 1,635,749 0.45 0.45

Encore Capital Group IncUnited

States60,827,474 7,436,712 0.69 0.69

EnergyO Solutions Russia AB Sweden 6,730,733 822,893 1.16 1.16

Enstar Group LtdUnited

States221,284,738 27,054,074 0.82 0.69

Enterprise Group Ltd/Ghana Ghana 14,422,803 1,763,319 1.62 1.62

EPR PropertiesUnited

States313,481,061 38,325,914 0.79 0.79

Equifax IncUnited

States819,610,772 100,204,878 0.71 0.71

Equinix IncUnited

States6,098,685,871 745,619,868 2.1 2.1

Equity CommonwealthUnited

States316,588,615 38,705,840 1.02 1.02

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017155

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Equity Group Holdings Ltd/Kenya Kenya 93,410,794 11,420,320 0.79 0.79

Equity LifeStyle Properties IncUnited

States515,487,537 63,023,044 0.81 0.81

Equity ResidentialUnited

States1,622,771,666 198,398,609 0.85 0.85

Erste Group Bank AG Austria 2,754,219,517 336,728,410 1.81 1.81

Essent Group LtdUnited

States387,003,031 47,314,644 1.11 1.11

Essex Property Trust IncUnited

States1,010,569,070 123,551,269 0.78 0.78

ESR-REIT Singapore 65,942,051 8,062,016 1.45 1.45

Etalon Group PLC Russia 269,594,378 32,960,367 3.76 3.76

Eugene Investment & Securities Co Ltd South Korea 17,612,707 2,153,314 0.68 0.68

Euler Hermes Group France 723,052,055 88,399,696 1.42 1.42

Eurobank Ergasias SA Greece 94,302,557 11,529,346 0.52 0.52

Eurocastle Investment Ltd Netherlands 25,802,107 3,154,542 0.61 0.61

Eurocommercial Properties NV Netherlands 473,809,850 57,927,568 2.68 2.68

Euronext NV France 975,713,084 119,289,807 2.74 2.74

European Reliance General Insurance

Co SAGreece 838,155 102,472 0.09 0.09

Even Construtora e Incorporadora SA Brazil 37,149,512 4,541,866 1.17 1.17

Everbright Jiabao Co Ltd China 189,175,346 23,128,408 0.94 0.94

Everbright Securities Co Ltd China 33,942,633 4,149,796 0.07 0.07

Evercore IncUnited

States354,204,053 43,304,670 1.25 1.25

Everest Re Group LtdUnited

States906,504,848 110,828,470 1.22 1.22

Extendicare Inc Canada 43,906,452 5,367,963 0.83 0.83

Extra Space Storage IncUnited

States511,296,560 62,510,659 0.57 0.57

EXOR NV Italy 2,575,733,415 314,906,859 2.13 2.13

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017156

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ez Tec Empreendimentos e

Participacoes SABrazil 35,725,417 4,367,757 0.41 0.41

E.Sun Financial Holding Co Ltd Taiwan 621,156,251 75,942,007 1.17 1.17

E*TRADE Financial CorpUnited

States967,460,152 118,280,811 0.89 0.89

Fabege AB Sweden 408,669,946 49,963,621 1.42 1.42

Fairfax Financial Holdings Ltd Canada 818,123,498 100,023,046 0.43 0.63

Fairpoint Group PLCUnited

Kingdom1,236 151 0.02 0.02

Fantasia Holdings Group Co Ltd China 13,276,814 1,623,211 0.21 0.21

Farglory Land Development Co Ltd Taiwan 30,427,079 3,719,987 0.41 0.41

Far Eastern International Bank Taiwan 148,558,027 18,162,571 1.78 1.78

Far East Consortium International

Ltd/HKHong Kong 84,378,185 10,316,001 0.75 0.75

Far East Horizon Ltd China 163,048,367 19,934,147 0.59 0.59

Far East Hospitality Trust Singapore 69,471,992 8,493,583 0.85 0.85

Fastighets AB Balder Sweden 595,882,673 72,852,082 0.97 1.51

FBD Holdings PLC Ireland 36,898,353 4,511,160 1.07 1.07

FBL Financial Group IncUnited

States102,144,587 12,488,106 0.72 0.72

FCB Financial Holdings IncUnited

States31,020,388 3,792,525 0.17 0.17

Federal Bank Ltd India 360,638,164 44,091,299 1.32 1.32

Federal Realty Investment TrustUnited

States3,211,239,204 392,603,227 4.07 4.07

Federated Investors IncUnited

States346,739,723 42,392,088 1.16

FFP France 135,736,141 16,594,979 0.3 0.55

Fifth Third BancorpUnited

States1,463,645,484 178,943,985 0.84 0.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017157

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Financial Engines IncUnited

States12,835,339 1,569,237 0.08 0.08

Financial Products Group Co Ltd Japan 30,019,121 3,670,111 0.33 0.33

FinecoBank Banca Fineco SpA Italy 394,188,776 48,193,166 0.77 0.77

FirstCash IncUnited

States457,815,404 55,972,101 1.76 1.76

FirstRand Ltd South Africa 1,642,496,245 200,810,119 0.66 0.66

FirstService Corp Canada 204,838,987 25,043,431 0.58 0.99

First Abu Dhabi Bank PJSCUnited Arab

Emirates243,665,988 29,790,385 0.1 0.1

First American Financial CorpUnited

States666,835,510 81,526,712 1.31 1.31

First BanCorp/Puerto RicoUnited

States244,055,769 29,838,040 2.71 2.71

First Bank of Toyama Ltd/The Japan 1,103,751 134,944 0.04 0.04

First Capital Realty Inc Canada 225,544,131 27,574,823 0.68 0.68

First Citizens BancShares Inc/NCUnited

States242,075,364 29,595,917 0.27 0.61

First Commonwealth Financial CorpUnited

States142,526,391 17,425,149 1.25 1.25

First Financial BancorpUnited

States170,757,054 20,876,604 1.28 1.28

First Financial Bankshares IncUnited

States44,527,458 5,443,887 0.18 0.18

First Financial Corp/INUnited

States117,043,993 14,309,694 2.58 2.58

First Financial Holding Co Ltd Taiwan 711,135,259 86,942,759 1.08 1.08

First Hawaiian IncUnited

States187,069,850 22,870,992 0.56 0.56

First Horizon National CorpUnited

States413,165,394 50,513,231 0.77 0.77

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017158

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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First Industrial Realty Trust IncUnited

States305,254,288 37,320,116 0.99 0.99

First International Bank Of Israel Ltd Israel 165,108,950 20,186,072 0.97 0.97

First Interstate BancSystem IncUnited

States8,251,160 1,008,779 0.02 0.04

First Juken Co Ltd Japan 14,123,708 1,726,752 0.66 0.66

First Merchants CorpUnited

States141,185,164 17,261,172 0.84 0.84

First Midwest Bancorp Inc/ILUnited

States163,834,593 20,030,270 0.81 0.81

First National Financial Corp Canada 38,961,194 4,763,361 0.35 0.35

First Real Estate Investment Trust Singapore 73,554,133 8,992,662 1.11 1.11

First Republic Bank/CAUnited

States626,679,098 76,617,225 0.55 0.55

FIDEA Holdings Co Ltd Japan 67,631,823 8,268,606 2.5 2.5

FJ Next Co Ltd Japan 15,932,836 1,947,934 0.64 0.64

FlexiGroup Ltd/Australia Australia 92,528,835 11,312,492 2.25 2.25

Flow Traders Netherlands 161,928,664 19,797,253 1.77 1.77

Flushing Financial CorpUnited

States148,411,116 18,144,610 2.29 2.29

FNB Corp/PAUnited

States413,641,872 50,571,485 1.13 1.13

FNF GroupUnited

States1,343,682,967 164,277,475 1.53 1.53

Folkestone Education Trust Australia 71,169,073 8,701,067 1.5 1.5

Fonciere Des Regions France 856,433,968 104,706,849 1.23 1.23

Forestar Group IncUnited

States16,139,690 1,973,224 0.21 0.18

Forest City Realty Trust IncUnited

States430,485,020 52,630,713 0.82 0.82

Fortune Real Estate Investment Trust Hong Kong 178,623,910 21,838,399 0.93 0.93

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017159

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Foxtons Group PLCUnited

Kingdom43,350,740 5,300,023 1.74 1.74

Franklin Resources IncUnited

States1,228,084,194 150,144,473 0.63 0.63

Franklin Street Properties CorpUnited

States155,915,355 19,062,072 1.66 1.66

Frasers Centrepoint Ltd Singapore 26,257,941 3,210,272 0.07 0.07

Frasers Centrepoint Trust Singapore 82,956,481 10,142,185 0.65 0.65

Frasers Commercial Trust Singapore 112,617,921 13,768,566 1.52 1.52

Frasers Hospitality Trust Singapore 3,663,944 447,950 0.04 0.04

Frasers Logistics & Industrial Trust Singapore 117,172,114 14,325,358 1.09 1.09

Freeman FinTech Corp Ltd Hong Kong 47,639,929 5,824,415 0.56 0.56

Fubon Financial Holding Co Ltd Taiwan 1,786,850,567 218,458,749 1.21 1.21

Fukui Bank Ltd/The Japan 67,686,700 8,275,315 1.43 1.43

Fukuoka Financial Group Inc Japan 430,721,001 52,659,564 1.09 1.09

Fukushima Bank Ltd/The Japan 6,617,473 809,046 0.43 0.43

Fulton Financial CorpUnited

States233,466,407 28,543,394 0.91 0.91

Fuyo General Lease Co Ltd Japan 144,708,490 17,691,930 0.88 0.88

F&C Commercial Property Trust LtdUnited

Kingdom835,521 102,150 0.01 0.01

getBACK SA Poland 18,520,214 2,264,265 0.43 0.43

Gaming and Leisure Properties IncUnited

States512,623,838 62,672,931 0.8 0.8

Gateway Lifestyle Australia 62,652,135 7,659,794 1.47 1.47

Gazit-Globe Ltd Israel 161,136,301 19,700,380 0.96 0.96

GAM Holding AG Switzerland 742,872,058 90,822,872 3.52 3.52

GCA Corp Japan 7,408,492 905,756 0.23 0.23

GDI Property Group Australia 72,005,781 8,803,362 1.68 1.68

Gecina SA France 10,315,910,941 1,261,214,026 9.06 9.07

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017160

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Gemdale Properties & Investment Corp

LtdHong Kong 86,532,904 10,579,435 0.64 0.64

Gentera SAB de CV Mexico 54,312,784 6,640,232 0.48 0.48

Genworth Financial IncUnited

States180,006,777 22,007,467 1.42 1.42

Genworth MI Canada Inc Canada 287,641,536 35,166,796 1.11 1.11

Genworth Mortgage Insurance Australia

LtdAustralia 156,037,267 19,076,976 1.65 1.65

Getin Holding SA Poland 61,462,305 7,514,326 2.49 2.49

Getin Noble Bank SA Poland 84,421,089 10,321,247 2.46 2.46

Getty Realty CorpUnited

States84,110,867 10,283,319 0.96 0.96

GF Securities Co Ltd China 386,292,931 47,227,827 0.27 0.27

GGP IncUnited

States 5,615,713,286 686,572,073 3.1 3.1

Gimv NV Belgium 352,110,244 43,048,683 2.79 2.79

Glacier Bancorp IncUnited

States149,847,411 18,320,210 0.6 0.6

Global Logistic Properties Ltd Singapore 950,057,041 116,153,122 0.98 0.98

Global Net Lease IncUnited

States114,231,452 13,965,835 1.01 1.01

Globe Trade Centre SA Poland 39,216,062 4,794,521 0.36 0.36

Glorious Property Holdings Ltd China 29,660,646 3,626,284 0.49 0.49

Goldcrest Co Ltd Japan 62,688,587 7,664,250 1.06 1.06

Goldman Sachs Group Inc/TheUnited

States4,823,659,452 589,736,281 0.61 0.59

Goodman Group Australia 1,079,105,243 131,930,440 1.11 1.11

Good Resources Holdings Ltd Hong Kong 847,828 103,655 0.03 0.03

Government Properties Income TrustUnited

States190,223,523 23,256,557 1.27 1.27

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017161

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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GPT Group/The Australia 745,259,363 91,114,742 1.27 1.27

Grainger PLCUnited

Kingdom567,952,588 69,437,374 4.25 4.25

Gramercy Property TrustUnited

States308,907,188 37,766,716 0.88 0.88

Grand City Properties SA Germany 79,192,341 9,681,985 0.25 0.25

Granite Point Mortgage Trust IncUnited

States76,891,116 9,400,639 1.23 1.23

Granite Real Estate Investment Trust Canada 121,575,539 14,863,716 0.8 0.8

Graphisoft Park SE Hungary 2,856,415 349,223 0.23 0.23

Great Portland Estates PLCUnited

Kingdom2,366,391,660 289,312,923 9.51 9.51

Great Western Bancorp IncUnited

States200,863,211 24,557,356 1.05 1.05

Great-West Lifeco Inc Canada 985,221,221 120,452,263 0.43 0.43

Greencoat Renewables PLC Ireland 57,801,078 7,066,708 2.04 2.04

Greenland Hong Kong Holdings Ltd China 254,999,305 31,175,986 2.81 2.81

Greenlight Capital Re Ltd

United

States 56,538,528 6,912,350 0.37 0.92

Greentown China Holdings Ltd China 111,253,693 13,601,777 0.49 0.49

Greentown Service Group Co Ltd China 460,778,830 56,334,407 2.59 2.59

Green Bancorp IncUnited

States8,785,219 1,074,073 0.14 0.14

Green Dot CorpUnited

States329,092,199 40,234,517 1.31 1.31

Green REIT plc Ireland 9,699,095 1,185,803 0.09 0.09

GronlandsBANKEN A/S Denmark 18,329,059 2,240,894 1.19 1.19

Groupe Bruxelles Lambert SA Belgium 2,322,674,900 283,968,151 1.63 1.63

Growthpoint Properties Australia Ltd Australia 78,494,192 9,596,630 0.53 0.53

Growthpoint Properties Ltd South Africa 38,836,448 4,748,109 0.07 0.07

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017162

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Grupo Catalana Occidente SA Spain 607,328,129 74,251,393 1.39 1.39

Grupo de Inversiones Suramericana SA Colombia 599,816,923 73,333,079 1.1 0.95

Grupo Financiero Banorte SAB de CV Mexico 1,607,910,521 196,581,699 1.29 1.29

Grupo Financiero Inbursa SAB de CV Mexico 185,314,662 22,656,404 0.21 0.21

Grupo Financiero Interacciones SA de

CVMexico 93,018,067 11,372,306 0.94 0.94

Grupo Financiero Santander Mexico

SAB de CVMexico 119,387,739 14,596,238 0.15 0.15

Grupo GICSA SA de CV Mexico 30,330,558 3,708,187 0.51 0.51

GT Capital Holdings Inc Philippines 613,632,715 75,022,186 1.51 1.51

Guaranty Trust Bank PLC Nigeria 118,509,711 14,488,891 0.43 0.43

Gunma Bank Ltd/The Japan 527,006,071 64,431,290 2.31 2.31

GuocoLand Ltd Singapore 787,832 96,320 0

Guorui Properties Ltd China 6,738,387 823,829 0.06 0.06

Guotai Junan International Holdings Ltd Hong Kong 50,795,141 6,210,168 0.28 0.28

Guotai Junan Securities Co Ltd China 103,805,281 12,691,141 0.06 0.06

Hachijuni Bank Ltd/The Japan 235,931,467 28,844,770 0.98 0.98

Haci Omer Sabanci Holding AS Turkey 111,410,974 13,621,006 0.23 0.23

Haitong International Securities Group

LtdHong Kong 147,856,711 18,076,829 0.58 0.58

Haitong Securities Co Ltd China 463,131,982 56,622,101 0.34 0.34

Hammerson PLCUnited

Kingdom907,990,283 111,010,078 1.89 1.89

Hana Financial Group Inc South Korea 1,637,093,341 200,149,565 1.45 1.45

Hancock Holding CoUnited

States296,673,821 36,271,075 0.86 0.86

Hang Lung Group Ltd Hong Kong 524,391,174 64,111,595 1.28 1.28

Hang Lung Properties Ltd Hong Kong 423,644,763 51,794,429 0.47 0.47

Hang Seng Bank Ltd Hong Kong 2,141,895,696 261,866,248 0.55 0.55

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017163

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hannon Armstrong Sustainable

Infrastructure Capital Inc

United

States161,849,851 19,787,618 1.55 1.55

Hannover Rueck SE Germany 613,872,036 75,051,445 0.49 0.49

Hanover Insurance Group Inc/TheUnited

States588,466,587 71,945,397 1.57 1.57

Hansteen Holdings PLCUnited

Kingdom192,642,156 23,552,257 2.95 2.95

Hanwha General Insurance Co Ltd South Korea 110,186,260 13,471,273 1.52 1.52

Hanwha Investment & Securities Co Ltd South Korea 1,238,641 151,435 0.03 0.03

Hanwha Life Insurance Co Ltd South Korea 396,981,204 48,534,566 0.87 0.87

Harel Insurance Investments & Financial

Services LtdIsrael 98,466,256 12,038,396 0.76 0.76

Hargreaves Lansdown PLCUnited

Kingdom899,049,469 109,916,982 0.95 0.95

Hartford Financial Services Group

Inc/The

United

States1,763,071,618 215,551,556 1.07 1.07

Hastings Group Holdings PLCUnited

Kingdom436,607,824 53,379,281 1.88 1.88

Hatton National Bank PLC Sri Lanka 150,757,405 18,431,465 1.14 2.72

Ha Do Group JSC Vietnam 27,717,121 3,388,670 2.95 2.95

HAEMATO AG Germany 2,249,077 274,970 0.22 0.22

HCP IncUnited

States902,173,884 110,298,970 0.9 0.9

HDFC Bank Ltd India 4,019,299 491,396 0

HDFC Standard Life Insurance Co Ltd India 20,780,654 2,540,624 0.02 0.02

Healthcare Realty Trust IncUnited

States326,168,302 39,877,044 0.99 0.99

Healthcare Trust of America IncUnited

States409,393,458 50,052,077 0.81 0.81

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017164

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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HealthEquity IncUnited

States88,746,627 10,850,083 0.38 0.38

Heartland Bank LtdNew

Zealand134,136,465 16,399,404 1.99 1.99

Heiwa Real Estate Co Ltd Japan 108,309,490 13,241,821 1.83 1.83

Heiwa Real Estate REIT Inc Japan 29,114,739 3,559,542 0.42 0.42

Helical PLCUnited

Kingdom217,039,899 26,535,104 4.86 4.86

Heliopolis Housing Egypt 255,629,782 31,253,068 3.54 3.54

Hellenic Exchanges - Athens Stock

Exchange SAGreece 30,148,154 3,685,886 0.96 0.96

Helvetia Holding AG Switzerland 902,780,803 110,373,172 1.97 1.97

Hemfosa Fastigheter AB Sweden 447,335,885 54,690,884 2.58 2.58

Henderson Land Development Co Ltd Hong Kong 946,389,353 115,704,714 0.44 0.44

Hercules Capital IncUnited

States9,392,255 1,148,289 0.1 0.1

Hersha Hospitality TrustUnited

States83,129,942 10,163,392 1.4 1.4

HFF IncUnited

States190,058,633 23,236,398 1.24 1.24

Hiag Immobilien Holding AG Switzerland 17,224,533 2,105,856 0.21 0.21

Highwealth Construction Corp Taiwan 174,020,135 21,275,546 1.28 1.28

Highwoods Properties IncUnited

States441,354,126 53,959,560 1.03 1.03

Hilltop Holdings IncUnited

States186,410,153 22,790,338 0.94 0.94

Hiroshima Bank Ltd/The Japan 28,064,209 3,431,105 0.13 0.13

Hiscox LtdUnited

Kingdom991,673,921 121,241,165 2.13 2.13

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017165

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hispania Activos Inmobiliarios SOCIMI

SASpain 127,880,230 15,634,522 0.76 0.76

Hitachi Capital Corp Japan 324,556,055 39,679,932 1.26 1.26

Hokkoku Bank Ltd/The Japan 177,120,607 21,654,607 1.81 1.81

Hokuetsu Bank Ltd/The Japan 91,922,778 11,238,396 1.99 1.99

Hokuhoku Financial Group Inc Japan 357,682,783 43,729,976 2.12 2.12

Home BancShares Inc/ARUnited

States166,628,567 20,371,859 0.5 0.5

Hongkong Land Holdings Ltd Hong Kong 1,199,535,829 146,654,175 0.89 0.89

Hong Fok Corp Ltd Singapore 2,488,302 304,218 0.05 0.05

Hong Kong Exchanges & Clearing Ltd Hong Kong 4,706,997,612 575,473,309 1.51 1.51

Hong Leong Bank Bhd Malaysia 486,004,771 59,418,508 0.69 0.69

Hong Leong Financial Group Bhd Malaysia 344,031,434 42,060,975 0.83 0.83

Hong Pu Real Estate Development Co

LtdTaiwan 9,823,101 1,200,964 0.5 0.5

Hopewell Holdings Ltd Hong Kong 266,919,646 32,633,357 1.02 1.02

Hope Bancorp IncUnited

States204,057,573 24,947,896 1.01 1.01

Hopson Development Holdings Ltd China 54,356,135 6,645,532 0.3 0.3

Horace Mann Educators CorpUnited

States252,056,108 30,816,154 1.72 1.72

Hoshino Resorts REIT Inc Japan 27,404,634 3,350,466 0.32 0.32

Hospitality Properties TrustUnited

States584,332,072 71,439,915 1.46 1.46

Hostess Brands IncUnited

States20,074,929 2,454,343 0.13 0.13

Host Hotels & Resorts IncUnited

States1,111,698,421 135,915,253 0.93 0.93

Hotel Property Investments Australia 52,813,721 6,456,958 1.7 1.7

Houlihan Lokey IncUnited

States27,272,692 3,334,335 0.02 0.11

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017166

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Housing Development Finance Corp Ltd India 2,399,388,997 293,347,148 0.69 0.69

Housing Development & Infrastructure

Ltd India 11,271,426 1,378,034 0.31 0.31

Housing & Development Bank Egypt 7,017,467 857,949 0.25 0.25

Howard Hughes Corp/TheUnited

States366,937,020 44,861,391 0.79 0.79

Ho Bee Land Ltd Singapore 6,263,409 765,759 0.06 0.06

HRG Group IncUnited

States224,019,475 27,388,420 0.81 0.81

HSBC Holdings PLCUnited

Kingdom30,777,314,251 3,762,806,855 1.81 1.81

Huaku Development Co Ltd Taiwan 73,323,245 8,964,434 1.39 1.39

Huatai Securities Co Ltd China 401,027,116 49,029,216 0.3 0.3

Hua Nan Financial Holdings Co Ltd Taiwan 470,119,897 57,476,437 0.92 0.92

Hudson Pacific Properties IncUnited

States376,238,420 45,998,572 0.86 0.86

Hufvudstaden AB Sweden 374,406,149 45,774,560 0.28 1.35

Huishang Bank Corp Ltd China 32,368,601 3,957,356 0.07 0.07

Hulic Co Ltd Japan 431,115,992 52,707,855 0.71 0.71

Hulic Reit Inc Japan 1,166,964 142,672 0.01 0.01

Huntington Bancshares Inc/OHUnited

States918,822,288 112,334,389 0.71 0.71

Hyakugo Bank Ltd/The Japan 102,994,133 12,591,970 1.04 1.04

Hyakujushi Bank Ltd/The Japan 115,275,465 14,093,475 1.42 1.42

Hysan Development Co Ltd Hong Kong 411,055,623 50,255,292 0.91 0.91

Hyundai Marine & Fire Insurance Co Ltd South Korea 498,840,041 60,987,736 1.55 1.55

H-Farm Spa Italy 2,450,987 299,655 0.37 0.37

H&R Real Estate Investment Trust Canada 351,572,689 42,982,962 0.87 0.87

H&T Group PLCUnited

Kingdom21,278,188 2,601,452 1.53 1.53

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017167

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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iStar IncUnited

States55,118,913 6,738,789 0.87 0.87

IBERIABANK CorpUnited

States329,793,253 40,320,227 0.97 0.97

IBJ Leasing Co Ltd Japan 126,389,665 15,452,287 1.42 1.42

Ichigo Inc Japan 231,266,929 28,274,487 1.48 1.48

Ichiyoshi Securities Co Ltd Japan 83,327,454 10,187,540 2.01 2.01

ICADE France 618,977,019 75,675,576 1.04 1.04

ICICI Bank Ltd India 2,706,528,253 330,897,718 1.05 1.05

ICICI Prudential Life Insurance Co

Ltd/IndiaIndia 29,468,037 3,602,736 0.04 0.04

Idea Bank SA Poland 17,570,129 2,148,108 0.41 0.41

IDBI Bank Ltd India 33,619,639 4,110,307 0.15 0.15

IDFC Bank Ltd India 12,435,514 1,520,355 0.05 0.05

IDFC Ltd India 79,230,824 9,686,690 0.62 0.62

IDI Insurance Co Ltd Israel 29,480,594 3,604,271 0.37 0.37

IDLC Finance Ltd Bangladesh 94,798,452 11,589,974 3 3

IFCI Ltd India 49,192,891 6,014,279 0.75 0.75

Iguatemi Empresa de Shopping Centers

SABrazil 75,723,239 9,257,855 0.44 0.44

IGM Financial Inc Canada 501,633,226 61,329,229 0.72 0.72

IG Group Holdings PLCUnited

Kingdom730,622,102 89,325,203 2.5 2.5

IHS Markit LtdUnited

States911,977,598 111,497,564 0.62 0.62

Iida Group Holdings Co Ltd Japan 312,165,347 38,165,056 0.69 0.69

IMMOFINANZ AG Austria 619,052,432 75,684,795 2.63 2.63

Independence Realty Trust IncUnited

States10,316,205 1,261,250 0.15 0.15

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017168

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Independent Bank Corp/Rockland MAUnited

States65,422,723 7,998,524 0.42 0.42

Independent Bank Group IncUnited

States97,860,371 11,964,321 0.63 0.63

Indiabulls Housing Finance Ltd India 180,397,482 22,055,234 0.28 0.28

Indiabulls Real Estate Ltd India 24,568,917 3,003,774 0.18 0.18

Indian Bank India 36,751,442 4,493,198 0.16 0.16

Indian Overseas Bank India 4,216,945 515,560 0.05 0.05

IndusInd Bank Ltd India 1,218,748,535 149,003,104 0.96 0.96

Industrial Alliance Insurance & Financial

Services IncCanada 431,384,769 52,740,715 1.04 1.04

Industrial Bank Co Ltd China 187,405,277 22,912,001 0.04 0.04

Industrial Bank of Korea South Korea 591,417,198 72,306,137 0.84 0.84

Industrial & Commercial Bank of China

LtdChina 7,510,948,964 918,281,888 0.31 0.31

Industrivarden AB Sweden 1,922,227,441 235,009,804 1.58 2.14

Infinity Property & Casualty CorpUnited

States258,684,033 31,626,478 2.73 2.73

InfraREIT IncUnited

States106,086,104 12,969,992 1.59 1.59

Ingenia Communities Group Australia 29,152,924 3,564,210 0.8 0.8

Inmobiliaria Colonial Socimi SA Spain 608,553,821 74,401,245 1.75 1.75

Inmobiliaria del Sur SA Spain 35,034,224 4,283,253 2.06 2.06

Insurance Australia Group Ltd Australia 1,084,263,442 132,561,077 0.99 0.99

Intact Financial Corp Canada 714,395,388 87,341,340 0.75 0.75

Interactive Brokers Group IncUnited

States105,889,623 12,945,970 0.05 0.05

Intercontinental Exchange IncUnited

States2,332,422,165 285,159,843 0.69 0.69

Intercorp Financial Services Inc Peru 55,020,197 6,726,720 0.15 0.15

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017169

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Intermediate Capital Group PLCUnited

Kingdom880,295,326 107,624,118 2.39 2.39

International Bancshares CorpUnited

States294,643,636 36,022,867 1.37 1.37

International Personal Finance PLCUnited

Kingdom239,927,716 29,333,348 4.92 4.92

Intershop Holding AG Switzerland 152,895,805 18,692,904 1.87 1.87

Intertrust NV Netherlands 53,665,174 6,561,056 0.38 0.38

Intervest Offices & Warehouses NV Belgium 15,636,244 1,911,673 0.38 0.38

Intesa Sanpaolo SpA Italy 6,072,317,746 742,396,125 1.35 1.33

Intrum Justitia AB Sweden 484,767,855 59,267,283 1.22 1.22

Intu Properties PLCUnited

Kingdom 633,277,691 77,423,963 1.67 1.67

Invesco LtdUnited

States1,067,729,282 130,539,625 0.88 0.88

Invesco Mortgage Capital IncUnited

States206,801,807 25,283,404 1.27 1.27

Investa Office Fund Australia 216,741,020 26,498,563 1.21 1.21

Investec Ltd South Africa 135,540,316 16,571,038 0.74 0.74

Investec PLCUnited

Kingdom1,004,661,086 122,828,964 2.53 2.53

Investment AB Latour Sweden 177,451,077 21,695,010 0.16 0.28

Investment AB Oresund Sweden 149,887,024 18,325,053 2.51 2.51

Investment Technology Group IncUnited

States117,909,555 14,415,516 2.27 2.27

Investors Bancorp IncUnited

States322,385,628 39,414,578 0.93 0.93

Investors Real Estate TrustUnited

States106,301,612 12,996,340 1.91 1.91

Investor AB Sweden 4,752,311,784 581,013,379 0.37 1.66

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017170

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Invincible Investment Corp Japan 16,426,088 2,008,239 0.1 0.1

Invitation Homes IncUnited

States521,759,493 63,789,848 0.52 0.52

ING Groep NV Netherlands 9,069,395,154 1,108,816,123 1.55 1.55

ING Life Insurance Korea Ltd South Korea 179,251,998 21,915,189 0.54 0.54

IOI Properties Group Bhd Malaysia 23,630,207 2,889,008 0.11 0.11

IOOF Holdings Ltd Australia 470,734,639 57,551,595 1.96 1.96

Iron Mountain IncUnited

States847,288,509 103,588,734 0.98 0.98

IRB Brasil Resseguros S/A Brazil 66,672,988 8,151,380 0.25 0.25

Israel Discount Bank Ltd Israel 876,226,374 107,126,651 3.16 3.16

Itausa - Investimentos Itau SA Brazil 2,208,501,539 270,009,419 1.11

Itau CorpBanca Chile 114,411,777 13,987,881 0.3 0.3

Itau Unibanco Holding SA Brazil 2,761,894,468 337,666,742 0.4

Iyo Bank Ltd/The Japan 22,574,199 2,759,901 0.11 0.11

I-CABLE Communications Ltd Hong Kong 6,078,611 743,166 0.41 0.41

Jaccs Co Ltd Japan 91,295,920 11,161,757 1.36 1.36

Jafco Co Ltd Japan 440,185,667 53,816,705 2.85 2.85

Jammu & Kashmir Bank Ltd/The India 16,072,994 1,965,070 0.29 0.29

Janus Henderson Group PLCUnited

States371,206,015 45,383,315 0.59 0.59

Japan Exchange Group Inc Japan 538,301,894 65,812,307 0.69 0.69

Japan Hotel REIT Investment Corp Japan 33,599,418 4,107,835 0.15 0.15

Japan Investment Adviser Co Ltd Japan 106,063,985 12,967,288 1.71 1.71

Japan Logistics Fund Inc Japan 12,839,931 1,569,798 0.09 0.09

Japan Post Bank Co Ltd Japan 441,820,615 54,016,592 0.09 0.09

Japan Post Holdings Co Ltd Japan 2,459,769,317 300,729,192 0.58 0.58

Japan Post Insurance Co Ltd Japan 69,809,258 8,534,817 0.06 0.06

Japan Rental Housing Investments Inc Japan 2,142,663 261,960 0.02 0.02

Japan Securities Finance Co Ltd Japan 87,717,874 10,724,309 1.89 1.89

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017171

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Jardine Lloyd Thompson Group PLCUnited

Kingdom461,083,690 56,371,679 1.37 1.37

Jaya Real Property Tbk PT Indonesia 98,214,901 12,007,666 1.32 1.32

JBG SMITH PropertiesUnited

States1,667,860,681 203,911,152 4.98 4.98

JB Financial Group Co Ltd South Korea 216,826,534 26,509,018 3.01 3.01

Jerusalem Economy Ltd Israel 3,881,320 474,527 0.07 0.07

Jih Sun Financial Holdings Co Ltd Taiwan 74,878,001 9,154,517 0.92 0.92

Jimoto Holdings Inc Japan 19,908,900 2,434,044 0.79 0.79

JM AB Sweden 290,538,679 35,520,998 2.25 2.25

John Laing Group PLCUnited

Kingdom362,136,152 44,274,441 3.03 3.03

Jones Lang LaSalle IncUnited

States456,511,681 55,812,709 0.83 0.83

Joy City Property Ltd China 46,967,735 5,742,233 0.25 0.25

JPMorgan Chase & CoUnited

States25,822,813,368 3,157,074,018 0.85 0.85

JSB Co Ltd Japan 6,681,146 816,831 0.48 0.48

JSE Ltd South Africa 106,187,236 12,982,356 1.2 1.2

Julius Baer Group Ltd Switzerland 412,715,061 50,458,173 0.37 0.37

Jupiter Fund Management PLCUnited

Kingdom744,187,371 90,983,681 2.34 2.34

Juroku Bank Ltd/The Japan 95,435,767 11,667,891 1.04 1.04

Just Group PLCUnited

Kingdom152,852,474 18,687,607 0.86 0.86

Jyske Bank A/S Denmark 841,725,969 102,908,663 2.03 2.03

J Trust Co Ltd Japan 49,478,756 6,049,228 0.82 0.82

k1 Ventures Ltd Singapore 186 23 0

kabu.com Securities Co Ltd Japan 20,035,072 2,449,470 0.23 0.23

Kai Yuan Holdings Ltd Hong Kong 2,119,476 259,125 0.32 0.32

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017172

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kansai Urban Banking Corp Japan 96,497,035 11,797,641 1.23 1.23

Karnataka Bank Ltd/The India 70,375,204 8,604,009 1.28 1.28

Kasikornbank PCL Thailand 549,958,987 67,237,493 0.39 0.39

KAS Bank NV Netherlands 684,119 83,640 0.04 0.04

KBC Ancora Belgium 547,447,281 66,930,414 1.36 1.36

KBC Group NV Belgium 7,143,523,588 873,360,791 2.44 2.44

KB Financial Group Inc South Korea 1,712,063,622 209,315,364 0.85 0.85

KCB Group Ltd Kenya 190,560,299 23,297,731 1.84 1.84

Kearny Financial Corp/MDUnited

States126,621,033 15,480,574 1.32 1.32

Keihanshin Building Co Ltd Japan 18,850,980 2,304,704 0.54 0.54

Keiyo Bank Ltd/The Japan 179,649,452 21,963,781 1.67 1.67

Kemper CorpUnited

States384,640,761 47,025,835 1.33 1.33

Kenedix Inc Japan 115,079,422 14,069,507 0.96 0.96

Kenedix Retail REIT Corp Japan 2,216,230 270,954 0.03 0.03

Kennedy Wilson Europe Real Estate PlcUnited

Kingdom301,642,245 36,878,511 1.93 1.93

Kennedy-Wilson Holdings IncUnited

States194,571,757 23,788,169 0.91 0.91

Kenon Holdings Ltd/Singapore Israel 87,418,706 10,687,733 0.93 0.93

Kenya Reinsurance Corp Ltd Kenya 12,503,993 1,528,727 1.25 1.25

Keppel DC REIT Singapore 95,195,048 11,638,461 0.96 0.96

Keppel REIT Singapore 84,719,970 10,357,788 0.33 0.33

Kerry Properties Ltd Hong Kong 312,119,108 38,159,402 0.59 0.59

KeyCorpUnited

States968,750,623 118,438,583 0.55 0.55

Kiatnakin Bank PCL Thailand 299,063,303 36,563,211 1.78 1.78

Kilroy Realty CorpUnited

States2,729,749,358 333,736,710 4.54 4.54

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017173

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kimco Realty CorpUnited

States673,395,916 82,328,781 1.07 1.07

Kindom Construction Corp Taiwan 30,704,452 3,753,899 1.09 1.09

King's Town Bank Co Ltd Taiwan 196,752,209 24,054,749 1.67 1.67

King's Town Construction Co Ltd Taiwan 24,761,031 3,027,261 1.05 1.05

Kinnevik AB Sweden 1,162,422,220 142,116,699 0.65 1.52

Kinsale Capital Group IncUnited

States16,122,971 1,971,180 0.21 0.21

Kita-Nippon Bank Ltd/The Japan 20,037,628 2,449,782 1.02 1.02

Kite Realty Group TrustUnited

States192,676,338 23,556,436 1.44 1.44

Kiwi Property Group LtdNew

Zealand185,177,736 22,639,664 1.6 1.6

Kiyo Bank Ltd/The Japan 174,859,332 21,378,145 1.83 1.83

KIWOOM Securities Co Ltd South Korea 68,534,255 8,378,937 0.46 0.46

KKR Real Estate Finance Trust IncUnited

States16,366,879 2,001,000 0.19 0.19

Klepierre SA France 1,675,841,412 204,886,869 1.48 1.48

Klovern AB Sweden 357,359,404 43,690,440 2.31 3.48

Komercni banka asCzech

Republic165,258,619 20,204,371 0.25 0.25

Korean Reinsurance Co South Korea 128,006,433 15,649,952 1.27 1.27

Korea Investment Holdings Co Ltd South Korea 155,356,545 18,993,752 0.53 0.48

Korea Real Estate Investment & Trust

Co LtdSouth Korea 46,887,082 5,732,373 0.78 0.78

Kotak Mahindra Bank Ltd India 1,402,086,222 171,417,805 0.57 0.57

Kowloon Development Co Ltd Hong Kong 25,132,754 3,072,708 0.25 0.25

Krung Thai Bank PCL Thailand 474,694,993 58,035,784 0.7 0.7

KSL Holdings Bhd Malaysia 28,040,987 3,428,266 1.26 1.26

KTB Investment & Securities Co Ltd South Korea 16,312,710 1,994,377 0.91 0.91

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017174

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kungsleden AB Sweden 322,804,706 39,465,814 2.49 2.49

Kuoyang Construction Co Ltd Taiwan 42,092,104 5,146,143 1.5 1.5

Kwangju Bank Co Ltd South Korea 94,763,533 11,585,705 2.01 2.01

KWG Property Holding Ltd China 193,503,362 23,657,548 0.64 0.64

Kyobo Securities Co Ltd South Korea 45,305,788 5,539,045 1.82 1.82

Kyokuto Securities Co Ltd Japan 70,449,869 8,613,138 1.78 1.78

Kyoritsu Maintenance Co Ltd Japan 220,055,716 26,903,815 1.7 1.7

Kyushu Financial Group Inc Japan 80,422,835 9,832,424 0.35 0.35

K Wah International Holdings Ltd Hong Kong 105,782,022 12,932,815 0.77 0.77

Ladder Capital CorpUnited

States20,907,699 2,556,157 0.21 0.17

Lai Sun Development Co Ltd Hong Kong 66,480,288 8,127,820 0.79 0.79

Lamar Advertising CoUnited

States401,763,642 49,119,263 0.29 0.67

Lancashire Holdings LtdUnited

Kingdom311,199,614 38,046,986 2.05 2.05

Land Securities Group PLCUnited

Kingdom5,685,689,237 695,127,270 6.88 6.88

Langham Hospitality Investments and

Langham Hospitality Investments LtdHong Kong 90,989,605 11,124,308 1.22 1.22

LankaBangla Finance Ltd Bangladesh 60,204,766 7,360,581 2.85 4.27

LaSalle Hotel PropertiesUnited

States253,515,331 30,994,557 0.98 0.98

Laurentian Bank of Canada Canada 273,790,383 33,473,367 1.9 1.9

Lazard LtdUnited

States554,802,305 67,829,633 0.99 0.99

La Positiva Seguros y Reaseguros SA Peru 7,528,638 920,445 0.68 0.68

LBS Bina Group Bhd Malaysia 19,088,010 2,333,683 0.59 0.59

LC Corp SA Poland 128,320,592 15,688,361 4.43 4.43

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017175

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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LegacyTexas Financial Group IncUnited

States120,078,422 14,680,680 0.72 0.72

Legal & General Group PLCUnited

Kingdom2,641,704,960 322,972,481 1.47 1.47

Legg Mason IncUnited

States511,023,203 62,477,239 1.62 1.62

LendingTree IncUnited

States70,412,905 8,608,619 0.21 0.21

LendLease Group Australia 662,380,634 80,982,063 1.08 1.08

Leopalace21 Corp Japan 100,966,678 12,344,096 0.63 0.63

Lexington Realty TrustUnited

States230,486,486 28,179,071 1.21 1.21

LEG Immobilien AG Germany 1,394,207,624 170,454,575 2.34 2.34

Liberbank SA Spain 148,054,880 18,101,057 1.17 1.17

Liberty Broadband CorpUnited

States1,125,723,882 137,629,993 1.6 0.89

Liberty Holdings Ltd South Africa 386,299,353 47,228,613 1.64 1.64

Liberty Property TrustUnited

States494,777,637 60,491,070 0.95 0.95

Liberty VenturesUnited

States440,445,249 53,848,441 0.8 1.16

Liechtensteinische Landesbank AG Switzerland 68,168,502 8,334,220 0.53 0.53

Life Storage IncUnited

States274,975,225 33,618,225 0.81 0.81

Lincoln National CorpUnited

States2,745,809,487 335,700,207 2 2

Link REIT Hong Kong 2,026,200,554 247,721,464 1.22 1.22

Lippo Cikarang Tbk PT Indonesia 30,319,639 3,706,852 2.3 2.3

Lippo Malls Indonesia Retail Trust Singapore 89,470,367 10,938,567 1.29 1.29

Liu Chong Hing Investment Ltd Hong Kong 3,842,065 469,727 0.07 0.07

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017176

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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LIC Housing Finance Ltd India 139,395,806 17,042,406 0.38 0.38

LIFENET INSURANCE CO Japan 70,667,201 8,639,709 4.69 4.69

LIFULL Co Ltd Japan 56,816,922 6,946,386 0.65 0.65

Lloyds Banking Group PLCUnited

Kingdom14,621,439,223 1,787,604,054 2.7 2.7

Loews CorpUnited

States3,928,672,812 480,316,017 2.85 2.85

Logan Property Holdings Co Ltd China 76,087,950 9,302,445 0.16 0.16

LondonMetric Property PLCUnited

Kingdom354,612,273 43,354,579 2.47 2.47

London Stock Exchange Group PLCUnited

Kingdom1,911,669,463 233,718,995 1.31 1.31

Long4Life Ltd South Africa 21,858,163 2,672,359 0.76 0.76

Longfor Properties Co Ltd China 512,273,108 62,630,051 0.42 0.42

Long Bon International Co Ltd Taiwan 41,557,314 5,080,760 1.97 1.97

LPL Financial Holdings IncUnited

States597,208,514 73,014,178 1.42 1.42

LPN Development PCL Thailand 13,824,070 1,690,118 0.28 0.28

LTC Properties IncUnited

States175,073,637 21,404,346 1.24 1.24

LumX Group Ltd Switzerland 86,168 10,535 0.05 0.05

Lung Yen Life Service Corp Taiwan 53,077,476 6,489,205 0.71 0.71

L E Lundbergforetagen AB Sweden 539,206,164 65,922,862 0.16 0.71

L&T Finance Holdings Ltd India 137,462,999 16,806,103 0.34 0.34

mBank SA Poland 391,595,197 47,876,078 0.85 0.85

Macerich Co/TheUnited

States778,959,981 95,234,949 1.03 1.03

Mack-Cali Realty CorpUnited

States189,001,255 23,107,124 1.19 1.19

Macquarie Group Ltd Australia 2,063,717,268 252,308,223 0.95 0.95

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017177

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Magellan Financial Group Ltd Australia 14,242,208 1,741,240 0.05 0.05

Mahindra & Mahindra Financial

Services LtdIndia 360,053,519 44,019,821 0.96 0.96

Maiden Holdings LtdUnited

States110,589,031 13,520,516 2.42 2.42

Malath Cooperative Insurance CoSaudi

Arabia86,188,915 10,537,379 4.91

Malayan Banking Bhd Malaysia 751,462,707 91,873,157 0.35 0.35

Malaysia Building Society Bhd Malaysia 5,112,885 625,097 0.04 0.04

Manulife Financial Corp Canada 1,611,455,342 197,015,086 0.48 0.48

Manulife US Real Estate Investment

TrustSingapore 34,890,056 4,265,627 0.46 0.46

Man Group PLCUnited

Kingdom924,665,195 113,048,738 2.46 2.46

Mapfre SA Spain 729,593,279 89,199,420 0.9 0.9

Mapletree Commercial Trust Singapore 207,850,178 25,411,577 0.73 0.73

Mapletree Greater China Commercial

TrustSingapore 73,202,289 8,949,646 0.34 0.34

Mapletree Industrial Trust Singapore 230,113,447 28,133,464 0.98 0.98

Mapletree Logistics Trust Singapore 267,218,557 32,669,901 1.08 1.08

Marcus & Millichap IncUnited

States101,031,727 12,352,048 0.99 0.99

Marfin Investment Group Holdings SA Greece 11,079,728 1,354,598 0.97 0.97

Markel CorpUnited

States920,460,312 112,534,653 0.71 0.71

MarketAxess Holdings IncUnited

States629,553,394 76,968,634 1.02 1.02

Marsh & McLennan Cos IncUnited

States1,601,337,688 195,778,110 0.47 0.47

Marusan Securities Co Ltd Japan 24,283,106 2,968,831 0.49 0.49

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017178

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Masan Group Corp Vietnam 55,444,993 6,778,655 0.19 0.19

Mason Group Holdings Ltd Hong Kong 13,219,402 1,616,192 0.22 0.22

Mastercard IncUnited

States10,621,112,809 1,298,527,732 0.82 0.81

Masterlink Securities Corp Taiwan 57,056,447 6,975,670 1.47 1.47

Matrix Concepts Holdings Bhd Malaysia 59,929,971 7,326,985 1.82 1.82

Matsui Securities Co Ltd Japan 55,157,701 6,743,531 0.31 0.31

Max Financial Services Ltd India 220,291,066 26,932,588 1.08 1.08

Max India Ltd India 9,612,521 1,175,218 0.22 0.22

Max Ventures & Industries Ltd India 1,455,970 178,006 0.17 0.17

Maybank Kim Eng Securities Thailand

PCLThailand 6,942,815 848,822 0.22 0.22

MAS Real Estate Inc South Africa 32,512,064 3,974,896 0.25 0.25

MBK PCL Thailand 121,832,563 14,895,140 1.47 1.47

MB Financial IncUnited

States234,051,068 28,614,874 0.77 0.77

McKay Securities PLCUnited

Kingdom890,949 108,927 0.04 0.04

McMillan Shakespeare Ltd Australia 225,742,436 27,599,068 2.45 2.45

MCB Group Ltd Mauritius 67,715,579 8,278,846 0.43 0.43

MCUBS MidCity Investment Corp Japan 12,334,372 1,507,989 0.15 0.15

Mebuki Financial Group Inc Japan 454,000,722 55,505,721 1.11 1.11

Medibank Pvt Ltd Australia 1,173,298,799 143,446,460 2.02 2.02

Medical Properties Trust IncUnited

States371,104,906 45,370,953 0.9 0.9

Medinet Nasr Housing Egypt 70,902,015 8,668,417 1.44 1.44

Mediobanca SpA Italy 583,172,311 71,298,124 0.71 0.71

Megaworld Corp Philippines 365,069,586 44,633,080 1.34 1.34

Mega Financial Holding Co Ltd Taiwan 827,422,566 101,159,941 0.92 0.92

Meiwa Estate Co Ltd Japan 3,847,395 470,379 0.25 0.25

Melisron Ltd Israel 117,294,162 14,340,279 0.68 0.68

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017179

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Melker Schorling AB Sweden 23,999,835 2,934,198 0.04 0.04

Menora Mivtachim Holdings Ltd Israel 64,648,071 7,903,815 0.99 0.99

Mercantile Bank Ltd Bangladesh 49,978,971 6,110,384 2.48 2.48

Mercialys SA France 263,804,560 32,252,509 1.58 1.58

Mercuries Life Insurance Co Ltd Taiwan 68,981,344 8,433,597 0.81 0.81

Mercury General CorpUnited

States207,566,486 25,376,892 0.86 0.86

Meritz Financial Group Inc South Korea 283,105,961 34,612,281 1.72 1.72

Meritz Fire & Marine Insurance Co Ltd South Korea 246,047,216 30,081,512 1.24 1.24

Meritz Securities Co Ltd South Korea 79,090,590 9,669,545 0.37 0.37

Merlin Properties Socimi SA Spain 149,471,297 18,274,227 0.29 0.29

MetLife IncUnited

States2,223,854,026 271,886,400 0.51 0.51

Metro Bank PLCUnited

Kingdom446,256,565 54,558,928 1.27 1.27

MFA Financial IncUnited

States288,284,607 35,245,418 1.12 1.12

MGIC Investment CorpUnited

States438,585,548 53,621,076 1.03 1.03

Michinoku Bank Ltd/The Japan 34,948,543 4,272,778 1.48 1.48

Mid-America Apartment Communities

Inc

United

States828,250,014 101,261,104 0.89 0.89

Mie Bank Ltd/The Japan 44,728,707 5,468,492 1.8 1.8

Mie Kotsu Group Holdings Inc Japan 6,147,756 751,619 0.16 0.16

Migdal Insurance & Financial Holding

LtdIsrael 31,710,391 3,876,884 0.33 0.33

Military Commercial Joint Stock Bank Vietnam 323,669,067 39,571,490 1.95 1.95

Minato Bank Ltd/The Japan 56,977,285 6,965,992 0.9 0.9

Mingfa Group International Co Ltd China 2,486,748 304,028 0.08 0.08

Mirae Asset Daewoo Co Ltd South Korea 121,793,319 14,890,342 0.26 0.25

Mirae Asset Life Insurance Co Ltd South Korea 69,862,484 8,541,325 1.2 1.2

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017180

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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MirLand Development Corp PLC Russia 13,986,333 1,709,957 2.9 2.9

Mirvac Group Australia 702,043,000 85,831,148 1.26 1.26

Mito Securities Co Ltd Japan 39,071,603 4,776,859 1.73 1.73

Mitsubishi Estate Co Ltd Japan 2,086,857,482 255,137,325 1.05 1.05

Mitsubishi Estate Logistics REIT

Investment CorpJapan 14,308,525 1,749,347 0.34 0.34

Mitsubishi UFJ Financial Group Inc Japan 11,573,253,942 1,414,935,654 1.37 1.37

Mitsubishi UFJ Lease & Finance Co Ltd Japan 280,512,097 34,295,158 0.64 0.64

Mitsui Fudosan Co Ltd Japan 2,006,249,628 245,282,281 1.1 1.1

Miyazaki Bank Ltd/The Japan 86,434,054 10,567,350 1.76 1.76

Mizrahi Tefahot Bank Ltd Israel 287,986,909 35,209,021 0.82 0.82

Mizuho Financial Group Inc Japan 4,198,858,660 513,348,696 1.11 1.11

MKH Bhd Malaysia 8,895,379 1,087,541 0.46 0.46

MLP Group SA Poland 31,640,441 3,868,332 1.68 1.68

MLP SE Germany 42,937,426 5,249,491 0.71 0.71

MMI Holdings Ltd/South Africa South Africa 27,749,006 3,392,569 0.13 0.13

Mobimo Holding AG Switzerland 352,403,807 43,084,574 2.6 2.6

Modernland Realty Tbk PT Indonesia 76,349,265 9,334,393 3.44 3.44

Moneta Money Bank ASCzech

Republic99,365,536 12,148,341 0.61 0.61

Monex Group Inc Japan 31,499,319 3,851,078 0.48 0.48

Moody's CorpUnited

States1,780,654,965 217,701,280 0.77 0.77

Morgan StanleyUnited

States5,353,674,029 654,535,388 0.69 0.69

Morguard Real Estate Investment Trust Canada 39,221,539 4,795,190 0.72 0.72

Mori Trust Hotel Reit Inc Japan 2,464,246 301,277 0.05 0.05

Moscow Exchange MICEX-RTS PJSC Russia 532,262,841 65,073,978 1.51 1.51

MRV Engenharia e Participacoes SA Brazil 110,267,314 13,481,183 0.67 0.67

MSCI IncUnited

States1,024,447,446 125,248,027 1.1 1.1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017181

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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MS&AD Insurance Group Holdings Inc Japan 2,982,792,546 364,673,543 1.82 1.82

Muangthai Leasing PCL Thailand 350,538,318 42,856,501 1.7 1.7

Muenchener Rueckversicherungs-

Gesellschaft AG in MuenchenGermany 3,740,551,264 457,316,445 1.36 1.36

Multiplan Empreendimentos Imobiliarios

SABrazil 173,967,082 21,269,060 0.53 0.5

Multi Commodity Exchange of India Ltd India 2,248,301 274,875 0.04 0.04

Musashino Bank Ltd/The Japan 159,405,409 19,488,762 1.72 1.72

Muthoot Finance Ltd India 20,854,510 2,549,654 0.09 0.09

Mutual Trust Bank Ltd Bangladesh 162,353 19,849 0.01 0.01

M&A Capital Partners Co Ltd Japan 23,491,978 2,872,108 0.28 0.28

M&T Bank Corp United

States

1,157,698,618 141,539,195 0.55 0.55

Nagano Bank Ltd/The Japan 4,156,903 508,219 0.31 0.31

Nairobi Securities Exchange PLC Kenya 15,078,583 1,843,494 3.72 3.72

Nam Long Investment Corp Vietnam 36,752,407 4,493,316 2.16 2.16

Nanto Bank Ltd/The Japan 116,096,013 14,193,795 1.6 1.6

Nan Hai Corp Ltd Hong Kong 19,280,950 2,357,272 0.1 0.1

Nasdaq IncUnited

States393,969,985 48,166,417 0.38 0.38

National Australia Bank Ltd Australia 5,828,324,980 712,565,788 1.13 1.13

National Bank Holdings CorpUnited

States862,348 105,430 0.01 0.01

National Bank of Canada Canada 1,135,806,755 138,862,716 0.82 0.82

National Bank of Greece SA Greece 565,794,340 69,173,509 1.97 1.97

National Bank of Kuwait SAKP Kuwait 336,852,014 41,183,225 0.29 0.29

National Bank of Ras Al-Khaimah

PSC/The

United Arab

Emirates50,840,321 6,215,692 0.29 0.29

National Commercial BankSaudi

Arabia230,156,211 28,138,692 0.1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017182

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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National General Holdings CorpUnited

States174,262,824 21,305,217 1.02 1.02

National Gulf Holding Kuwait 4,074,175 498,105 0

National Health Investors IncUnited

States269,535,109 32,953,121 1.05 1.05

National Industrialization CoSaudi

Arabia81,212,922 9,929,019 0.35

National Retail Properties IncUnited

States416,224,484 50,887,232 0.78 0.78

National Storage REIT Australia 111,743,617 13,661,674 2.01 2.01

National Western Life Group IncUnited

States8,347,310 1,020,535 0.08 0.08

Nationstar Mortgage Holdings IncUnited

States83,302,058 10,184,435 0.56 0.56

Natixis SA France 222,150,661 27,159,941 0.11 0.11

Navient CorpUnited

States355,609,347 43,476,480 1.24 1.24

Navigators Group Inc/TheUnited

States195,665,017 23,921,830 1.66 1.66

Navigator Global Investments Ltd Australia 23,716,531 2,899,562 0.69 0.69

NBB Investment Corp Vietnam 18,636,289 2,278,456 2.66 2.66

NBT Bancorp IncUnited

States74,098,996 9,059,277 0.57 0.57

Nedbank Group Ltd South Africa 286,300,055 35,002,788 0.34 0.34

Neinor Homes SA Spain 371,348,795 45,400,771 2.45 2.45

Nelnet IncUnited

States293,412,093 35,872,300 0.45 1.6

Netwealth Group Ltd Australia 14,674,005 1,794,031 0.13 0.13

NewRiver REIT PLCUnited

Kingdom198,495,893 24,267,930 1.77 1.77

New China Life Insurance Co Ltd China 906,134,692 110,783,215 0.49 0.49

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017183

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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New Mountain Finance CorpUnited

States13,309,709 1,627,233 0.16 0.16

New Residential Investment CorpUnited

States378,705,447 46,300,188 0.84 0.84

New Senior Investment Group IncUnited

States82,124,055 10,040,413 1.62 1.62

New World Development Co Ltd Hong Kong 1,007,904,024 123,225,443 0.83 0.83

New York Community Bancorp IncUnited

States405,714,736 49,602,320 0.78 0.78

New York REIT IncUnited

States10,250,766 1,253,249 0.19 0.19

Nexity SA France 648,173,118 79,245,064 2.37 2.37

NEPI Rockcastle PLC South Africa 83,315,243 10,186,047 0.1 0.1

NEX Group PLCUnited

Kingdom526,462,444 64,364,827 2.07 2.07

NH Investment & Securities Co Ltd South Korea 83,687,974 10,231,617 0.28 0.26

Nihon Eslead Corp Japan 7,956,805 972,792 0.28 0.28

Nihon M&A Center Inc Japan 189,300,214 23,143,674 0.59 0.59

Nippon Kanzai Co Ltd Japan 62,413,638 7,630,635 1.02 1.02

Nippon Prologis REIT Inc Japan 27,061,283 3,308,488 0.08 0.08

Nishi-Nippon Financial Holdings Inc Japan 188,609,053 23,059,174 1.07 1.07

NICE Holdings Co Ltd South Korea 101,412,918 12,398,652 2.39 2.39

NICE Information Service Co Ltd South Korea 38,066,604 4,653,989 0.94 0.94

NIPPON REIT Investment Corp Japan 6,929,213 847,159 0.08 0.08

NN Group NV Netherlands 4,535,147,030 554,463,011 3.7 3.7

Noah Holdings Ltd China 51,973,964 6,354,290 0.13 0.24

Nomura Holdings Inc Japan 2,301,699,370 281,403,702 1.31 1.31

Nomura Real Estate Holdings Inc Japan 287,182,002 35,110,614 0.82 0.82

Nordea Bank AB Sweden 6,388,017,988 780,993,354 1.59 1.59

Norstar Holdings Inc Israel 33,538,681 4,100,409 0.77 0.77

Norte Grande SA Chile 52,476,274 6,415,702 0.54 0.54

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017184

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Northern Trust CorpUnited

States929,832,710 113,680,514 0.5 0.5

NorthStar Realty Europe CorpUnited

States92,785,327 11,343,851 1.52 1.52

Northview Apartment Real Estate

Investment TrustCanada 99,274,472 12,137,208 1.09 1.09

Northwest Bancshares IncUnited

States188,951,724 23,101,068 1.35 1.35

North Pacific Bank Ltd Japan 119,222,769 14,576,069 1.09 1.09

NRG Yield IncUnited

States570,049,672 69,693,762 2.22 2

NSI NV Netherlands 148,629,975 18,171,368 2.37 2.37

NTT Urban Development Corp Japan 222,094,418 27,153,065 0.71 0.71

Oberoi Realty Ltd India 19,959,134 2,440,186 0.1 0.1

Ogaki Kyoritsu Bank Ltd/The Japan 122,399,638 14,964,470 1.41 1.41

Oita Bank Ltd/The Japan 95,184,342 11,637,152 1.84 1.84

Okasan Securities Group Inc Japan 133,341,045 16,302,157 1.26 1.26

Old Mutual PLCUnited

Kingdom3,177,359,224 388,461,091 2.53 2.53

Old National Bancorp/INUnited

States240,184,897 29,364,790 1.24 1.24

Old Republic International CorpUnited

States583,829,895 71,378,520 1.27 1.27

Omega Healthcare Investors IncUnited

States286,691,339 35,050,626 0.64 0.64

OM Asset Management PlcUnited

States290,705,053 35,541,339 1.93 1.93

OneMain Holdings IncUnited

States562,917,213 68,821,754 1.96 1.96

OneSavings Bank PLCUnited

Kingdom328,199,860 40,125,421 2.95 2.95

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017185

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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ONE Bank Ltd Bangladesh 51,579,542 6,306,069 2.99 2.99

Open House Co Ltd Japan 277,732,817 33,955,365 1.1 1.1

Orascom Development Holding AG Switzerland 9,091,828 1,111,559 0.24 0.24

Oriental Bank of Commerce India 16,259,210 1,987,836 0.3 0.3

Orient Corp Japan 27,830,265 3,402,503 0.12 0.12

Orient Securities Co Ltd/China China 38,571,606 4,715,730 0.07 0.07

Origin Property PCL Thailand 30,899,963 3,777,802 0.39 0.39

Oritani Financial CorpUnited

States104,819,250 12,815,108 1.69 1.69

Orix JREIT Inc Japan 10,030,758 1,226,351 0.03 0.03

ORIX Corp Japan 3,106,295,008 379,772,844 1.7 1.7

OTP Bank PLC Hungary 107,132,686 13,097,946 0.11 0.11

OUE Hospitality Trust Singapore 71,662,649 8,761,411 0.76 0.76

Oversea-Chinese Banking Corp Ltd Singapore 2,908,685,830 355,613,323 0.92 0.92

Oxley Holdings Ltd Singapore 26,216,105 3,205,158 0.2 0.2

Pacific Current Group Ltd Australia 2,672,040 326,681 0.12 0.12

PacWest BancorpUnited

States488,590,894 59,734,685 0.92 0.92

Palm Hills Developments SAE Egypt 122,357,462 14,959,314 2.92 2.92

Pandox AB Sweden 334,748,027 40,925,994 0.6 1.27

Panin Financial Tbk PT Indonesia 73,302,761 8,961,930 1.53 1.53

Paragon Banking Group PLCUnited

Kingdom657,061,180 80,331,711 4.57 4.57

Paramount Group IncUnited

States1,843,933,497 225,437,657 5.92 5.92

Pargesa Holding SA Switzerland 788,917,524 96,452,349 0.71 0.71

Parkway Life Real Estate Investment

TrustSingapore 111,486,052 13,630,185 1.01 1.01

Park Group PLCUnited

Kingdom68,021,646 8,316,265 3.78 3.78

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017186

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Park Hotels & Resorts IncUnited

States347,269,436 42,456,850 0.69 0.69

Park National CorpUnited

States96,851,029 11,840,920 0.74 0.74

Parque Arauco SA Chile 82,445,128 10,079,667 0.36 0.36

Partners Group Holding AG Switzerland 2,422,167,626 296,132,043 1.6 1.6

PATRIZIA Immobilien AG Germany 348,127,842 42,561,798 1.99 1.99

Pebblebrook Hotel TrustUnited

States186,155,693 22,759,228 0.89 0.89

Peet Ltd Australia 6,318,587 772,505 0.14 0.14

Pennsylvania Real Estate Investment

Trust

United

States12,657,312 1,547,472 0.19 0.19

PennyMac Financial Services IncUnited

States10,016,807 1,224,646 0.24 0.07

PennyMac Mortgage Investment TrustUnited

States144,904,591 17,715,905 1.68 1.68

People's Insurance Co Group of China

Ltd/TheChina 733,514,726 89,678,853 0.43 0.43

People's Leasing & Finance PLC Sri Lanka 14,290,159 1,747,102 1 1

People's United Financial IncUnited

States267,437,963 32,696,726 0.5 0.5

Permanent TSB Group Holdings PLC Ireland 15,450,317 1,888,942 0.15 0.15

Perpetual Ltd Australia 275,133,183 33,637,536 1.91 1.91

Philippine National Bank Philippines 194,727,914 23,807,260 1.68 1.68

Phoenix Group HoldingsUnited

Kingdom557,239,339 68,127,582 1.64 1.64

Phoenix Holdings Ltd/The Israel 51,590,958 6,307,464 0.46 0.46

Physicians Realty TrustUnited

States275,497,843 33,682,119 1.04 1.04

Piedmont Office Realty Trust IncUnited

States264,318,304 32,315,319 1.14 1.14

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017187

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ping An Insurance Group Co of China

LtdChina 7,727,280,518 944,730,390 0.49 0.49

Pinnacle Financial Partners IncUnited

States142,721,747 17,449,033 0.34 0.34

Pioneers Holding for Financial

Investments SAEEgypt 79,863,242 9,764,008 2.91 2.91

Piper Jaffray CosUnited

States158,449,029 19,371,836 1.49 1.49

Piraeus Bank SA Greece 35,724,119 4,367,599 0.27 0.27

PICC Property & Casualty Co Ltd China 1,780,453,767 217,676,682 0.76 0.76

PJT Partners IncUnited

States9,629,928 1,177,346 0.14 0.08

Platform Specialty Products CorpUnited

States208,343,110 25,471,842 0.89 0.89

Platinum Asset Management Ltd Australia 116,725,930 14,270,808 0.4 0.4

Platinum Group PCL/The Thailand 164,534,743 20,115,870 2.87 2.87

Plazza AG Switzerland 32,582,502 3,983,507 0.56 0.56

PNB Housing Finance Ltd India 3,633,643 444,246 0.01 0.01

PNC Financial Services Group Inc/TheUnited

States4,923,716,961 601,969,223 0.88 0.88

Poly Property Group Co Ltd China 90,650,641 11,082,866 0.58 0.58

Poly Real Estate Group Co Ltd China 337,481,852 41,260,229 0.16 0.16

Popular IncUnited

States370,224,432 45,263,307 1.25 1.25

Porto Seguro SA Brazil 106,981,368 13,079,446 0.37 0.37

Postal Savings Bank of China Co Ltd China 385,560,116 47,138,234 0.11 0.11

Poste Italiane SpA Italy 539,085,883 65,908,157 0.67 0.67

Potlatch CorpUnited

States219,610,996 26,849,443 1.32 1.32

Powerlong Real Estate Holdings Ltd China 58,178,288 7,112,825 0.37 0.37

Power Corp of Canada Canada 809,418,502 98,958,781 0.83 0.83

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017188

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Power Finance Corp Ltd India 55,331,294 6,764,754 0.13 0.13

Power Financial Corp Canada 728,584,332 89,076,067 0.45 0.45

Powszechna Kasa Oszczednosci Bank

Polski SAPoland 507,983,138 62,105,563 0.39 0.39

Powszechny Zaklad Ubezpieczen SA Poland 335,987,542 41,077,536 0.39 0.39

Pozavarovalnica Sava dd Slovenia 17,835,902 2,180,601 0.67 0.67

Precinct Properties New Zealand LtdNew

Zealand51,451,764 6,290,447 0.54 0.54

Premier Investments Ltd Australia 130,510,618 15,956,111 0.87 0.87

Premium Group Co Ltd Japan 9,963,123 1,218,083 0.87 0.87

President Securities Corp Taiwan 40,961,015 5,007,857 0.75 0.75

Pressance Corp Japan 28,684,903 3,506,991 0.42 0.42

Prestige Estates Projects Ltd India 92,385,730 11,294,996 0.6 0.6

Primerica IncUnited

States384,724,156 47,036,031 1.05 1.05

Prime Bank Ltd Bangladesh 60,032,029 7,339,462 2.16 2.16

Prince Housing & Development Corp Taiwan 47,829,856 5,847,635 0.89 0.89

Principal Financial Group IncUnited

States1,579,151,995 193,065,708 0.95 0.95

ProAssurance CorpUnited

States386,016,816 47,194,070 1.55 1.55

Progressive Corp/TheUnited

States2,139,312,871 261,550,474 0.8 0.8

Prologis IncUnited

States2,236,144,790 273,389,058 0.8 0.8

Property & Building Corp Ltd Israel 4,314,389 527,473 0.08 0.08

Prosperity Bancshares IncUnited

States332,488,198 40,649,709 0.83 0.83

Prosperity REIT Hong Kong 58,441,677 7,145,027 1.14 1.14

Provident Financial PLCUnited

Kingdom317,899,937 38,866,161 2.16 2.16

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017189

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Provident Financial Services IncUnited

States210,628,509 25,751,253 1.43 1.43

Prudential Financial IncUnited

States4,837,450,775 591,422,396 1.21 1.21

Prudential PLCUnited

Kingdom19,469,549,963 2,380,329,728 3.57 3.57

Pruksa Holding PCL Thailand 106,234,169 12,988,094 0.82 0.82

PRA Group IncUnited

States55,226,294 6,751,917 0.45 0.45

PSG Group Ltd South Africa 352,212,668 43,061,205 0.85 0.85

PSG Konsult Ltd South Africa 11,797,600 1,442,364 0.15 0.15

PSP Swiss Property AG Switzerland 677,393,546 82,817,528 1.91 1.91

PS Business Parks IncUnited

States216,472,973 26,465,792 0.78 0.78

Public Bank Bhd Malaysia 421,758,965 51,563,873 0.26 0.26

Public Financial Holdings Ltd Hong Kong 20,527,194 2,509,636 0.52 0.52

Public StorageUnited

States2,209,299,707 270,107,002 0.74 0.74

Punjab National Bank India 356,784,787 43,620,188 0.67 0.67

Puradelta Lestari Tbk PT Indonesia 51,538,148 6,301,008 1.04 1.04

Qatar National Bank QPSC Qatar 59,199,948 7,237,733 0.02 0.02

QBE Insurance Group Ltd Australia 2,138,890,125 261,498,790 2.3 2.3

QTS Realty Trust IncUnited

States208,330,142 25,470,256 0.83 0.93

Quabit Inmobiliaria SA Spain 22,555,707 2,757,640 1.1 1.1

Qualicorp SA Brazil 403,306,621 49,307,906 1.83 1.83

Qualitas Controladora SAB de CV Mexico 10,553,650 1,290,280 0.15 0.15

Quality Care Properties IncUnited

States74,185,636 9,069,869 0.7 0.7

Quality Houses PCL Thailand 388,414,361 47,487,192 4.46 4.46

Qudian Inc China 45,251,003 5,532,347 0.05 0.13

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017190

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Radian Group IncUnited

States476,654,164 58,275,311 1.31 1.31

Radium Life Tech Co Ltd Taiwan 34,295,102 4,192,888 1.1 1.1

Raiffeisen Bank International AG Austria 1,144,857,780 139,969,286 1.17 1.17

Ramco-Gershenson Properties TrustUnited

States151,109,390 18,474,499 1.58 1.58

Rand Merchant Investment Holdings Ltd South Africa 395,508,446 48,354,508 0.86 0.86

Ratchthani Leasing PCL Thailand 138,692,580 16,956,431 2.12 2.12

Rathbone Brothers PLCUnited

Kingdom293,176,400 35,843,484 2.02 2.02

Ratos AB Sweden 204,380,857 24,987,420 0.53 1.76

Raven Russia LtdUnited

Kingdom96,170,398 11,757,707 2.61 2.61

Raymond James Financial IncUnited

States560,167,683 68,485,599 0.53 0.53

Rayonier IncUnited

States313,810,138 38,366,146 0.94 0.94

Raysum Co Ltd Japan 6,577,025 804,101 0.13 0.13

RBL Bank Ltd India 596,485,003 72,925,722 2.19 2.19

RDI REIT PLCUnited

Kingdom87,861,204 10,741,832 1.13 1.13

Realia Business SA Spain 29,363,996 3,590,016 0.42 0.42

Realogy Holdings CorpUnited

States286,025,878 34,969,268 0.97 0.97

Realty Income CorpUnited

States1,162,256,704 142,096,463 0.88 0.88

Record PLCUnited

Kingdom16,573,440 2,026,254 1.69 1.69

Redde PLCUnited

Kingdom51,651,480 6,314,864 0.88 0.88

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017191

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Redfin CorpUnited

States10,247,090 1,252,800 0.05 0.05

Redwood Trust IncUnited

States145,547,262 17,794,478 1.56 1.56

Red Sena Bhd Malaysia 27,283,757 3,335,688 2.87 2.87

Red Star Macalline Group Corp Ltd China 86,101,174 10,526,652 0.18 0.18

Regal Real Estate Investment Trust Hong Kong 293,805 35,920 0

Regency Centers CorpUnited

States762,092,376 93,172,731 0.79 0.79

Regions Financial CorpUnited

States1,305,973,630 159,667,165 0.8 0.8

Reinsurance Group of America IncUnited

States673,396,536 82,328,857 0.82 0.82

Reit 1 Ltd Israel 155,254,631 18,981,292 2.53 2.53

Reliance Capital Ltd India 40,017,605 4,892,516 0.21 0.21

Reliance Home Finance Ltd India 6,260,200 765,366 0.11 0.11

Relo Group Inc Japan 615,003,604 75,189,789 1.8 1.8

RenaissanceRe Holdings LtdUnited

States468,820,039 57,317,518 1.14 1.14

Renasant CorpUnited

States137,031,334 16,753,328 0.83 0.83

Renhe Commercial Holdings Co Ltd China 24,773,670 3,028,807 0.24 0.24

Repco Home Finance Ltd India 8,910,673 1,089,411 0.16 0.16

Republic Bancorp Inc/KYUnited

States99,438,298 12,157,237 0.78 1.53

Resona Holdings Inc Japan 1,487,251,440 181,830,028 1.31 1.31

Resurs Holding AB Sweden 127,361,783 15,571,137 1.09 1.09

Retail Opportunity Investments CorpUnited

States184,775,135 22,590,442 1.03 1.03

Retail Properties of America IncUnited

States292,736,251 35,789,672 1.17 1.17

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017192

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Rexford Industrial Realty IncUnited

States196,407,611 24,012,618 1.06 1.06

REA Group Ltd Australia 421,329,473 51,511,364 0.65 0.65

RHB Bank Bhd Malaysia 128,842,255 15,752,139 0.32 0.32

RHT Health Trust Singapore 67,150,309 8,209,737 1.62 1.62

Ricoh Leasing Co Ltd Japan 72,803,837 8,900,932 0.82 0.82

Rimac Seguros y Reaseguros Peru 22,312,683 2,727,929 0.46 0.46

RioCan Real Estate Investment Trust Canada 516,253,841 63,116,732 1 1

Rizal Commercial Banking Corp Philippines 36,720,134 4,489,371 0.29 0.29

RLI CorpUnited

States155,696,299 19,035,290 0.71 0.71

RLJ Lodging TrustUnited

States326,047,900 39,862,324 1.04 1.04

RMB Holdings Ltd South Africa 1,036,494,928 126,720,941 1.4 1.4

RMR Group Inc/TheUnited

States55,049,584 6,730,313 0.75 0.36

Road King Infrastructure Ltd Hong Kong 32,595,065 3,985,043 0.31 0.31

Robyg SA Poland 46,409,596 5,673,996 1.83 1.83

Rocket Internet SE Germany 255,938,046 31,290,756 0.75 0.75

Ronson Europe NV Poland 8,857,745 1,082,940 1.62 1.62

Rothschild & Co France 28,321,469 3,462,557 0.08 0.12

Royal Bank of Canada Canada 8,732,125,400 1,067,581,825 0.9 0.9

Royal Bank of Scotland Group PLCUnited

Kingdom3,177,841,897 388,520,102 0.86 0.86

RSA Insurance Group PLCUnited

Kingdom1,739,094,805 212,620,172 2.43 2.43

Rubicon LtdNew

Zealand6,783,201 829,308 1.23 1.23

Ruentex Development Co Ltd Taiwan 143,728,930 17,572,170 0.98 0.98

Rural Funds Group Australia 12,438,783 1,520,754 0.33 0.33

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017193

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ryman Hospitality Properties IncUnited

States281,812,657 34,454,163 0.98 0.98

Sabana Shari'ah Compliant Industrial

Real Estate Investment TrustSingapore 23,038,823 2,816,706 0.9 0.9

Sabra Health Care REIT IncUnited

States313,871,981 38,373,707 1.15 1.15

Sabre Insurance Group PLCUnited

Kingdom42,744,519 5,225,907 0.57 0.57

Safestore Holdings PLCUnited

Kingdom475,077,401 58,082,537 4.1 4.1

Safety Income and Growth IncUnited

States28,791,312 3,520,000 1.1 1.1

Safety Insurance Group IncUnited

States262,132,489 32,048,083 2.62 2.62

Sagax AB Sweden 28,118,881 3,437,789 0.26 0.4

Saigon Securities Inc Vietnam 154,352,978 18,871,057 2.98 2.98

Salafin Morocco 19,510,208 2,385,301 1.04 1.04

Salama Cooperative Insurance CoSaudi

Arabia41,040,845 5,017,617 3

Samba Financial GroupSaudi

Arabia579,918,299 70,900,291 0.57

Sampath Bank PLC Sri Lanka 55,081,164 6,734,174 1.51 1.51

Sampo Oyj Finland 2,855,496,774 349,110,476 1.12 1.13

Samsung Card Co Ltd South Korea 209,313,821 25,590,520 0.6 0.6

Samsung Fire & Marine Insurance Co

LtdSouth Korea 888,264,529 108,598,425 0.88 0.88

Samsung Life Insurance Co Ltd South Korea 1,172,093,670 143,299,122 0.62 0.62

Samsung Securities Co Ltd South Korea 16,484,547 2,015,386 0.07 0.07

Samty Residential Investment Corp Japan 2,527,357 308,992 0.13 0.13

Sandy Spring Bancorp IncUnited

States150,609,176 18,413,343 1.97 1.97

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017194

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sanei Architecture Planning Co Ltd Japan 6,084,362 743,869 0.16 0.16

Sanlam Ltd South Africa 1,059,961,102 129,589,894 0.85 0.85

Sansiri PCL Thailand 178,336,673 21,803,282 2.19 2.19

Santam Ltd South Africa 30,222,600 3,694,988 0.15 0.15

Santander Consumer USA Holdings IncUnited

States187,844,981 22,965,759 0.34 0.34

San-In Godo Bank Ltd/The Japan 312,287,270 38,179,962 2.52 2.52

Sao Carlos Empreendimentos e

Participacoes SABrazil 113,521,100 13,878,988 1.85 1.85

Satin Creditcare Network Ltd India 56,421,541 6,898,047 2.16 2.16

Saudi British Bank/TheSaudi

Arabia149,624,773 18,292,991 0.17

Saul Centers IncUnited

States110,126,018 13,463,908 1 1

Savills PLCUnited

Kingdom443,155,260 54,179,765 2.84 2.84

Sberbank of Russia PJSC Russia 5,121,123,094 626,103,920 0.57 0.7

SBA Communications CorpUnited

States1,346,954,897 164,677,498 0.86 0.86

SBI Holdings Inc/Japan Japan 783,836,600 95,831,160 2.04 2.04

Scentre Group Australia 1,689,985,903 206,616,162 1.18 1.18

Schroders PLCUnited

Kingdom806,830,044 98,642,318 0.23 0.95

Schroder Real Estate Investment Trust

Ltd

United

Kingdom77,682,293 9,497,367 2.24 2.24

Scotiabank Peru SAA Peru 22,935,100 2,804,025 0.05 0.05

Scottish Pacific Group Ltd Australia 103,502,247 12,654,092 3.54 3.54

SCOR SE France 1,154,261,979 141,119,035 1.81 1.81

Security Bank Corp Philippines 202,268,696 24,729,190 0.65 0.8

Segro PLCUnited

Kingdom1,386,788,952 169,547,574 2.13 2.13

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017195

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sekisui House Residential Investment

CorpJapan 1,929,470 235,895 0.02 0.02

Selective Insurance Group IncUnited

States448,193,102 54,795,687 1.6 1.6

Select Income REITUnited

States196,711,419 24,049,762 1.07 1.07

Sella Capital Real Estate Ltd Israel 25,739,617 3,146,903 0.89 0.89

Senior Housing Properties TrustUnited

States414,454,243 50,670,804 1.11 1.11

Senshu Ikeda Holdings Inc Japan 196,158,248 23,982,132 2.31 2.31

Sentul City Tbk PT Indonesia 56,427,977 6,898,834 1.3 1.3

ServisFirst Bancshares IncUnited

States28,822,786 3,523,848 0.16 0.16

Seven Bank Ltd Japan 126,846,896 15,508,188 0.38 0.38

SEA Holdings Ltd Hong Kong 33,355,768 4,078,046 0.39 0.39

SEI Investments CoUnited

States773,110,766 94,519,829 0.84 0.84

Shaftesbury PLCUnited

Kingdom4,489,111,054 548,834,694 12.65 12.65

Shanghai Industrial Urban Development

Group LtdChina 26,410,282 3,228,897 0.28 0.28

Shanghai Jinqiao Export Processing

Zone Development Co LtdChina 23,230,021 2,840,081 0.18 0.18

Shanghai Lujiazui Finance & Trade

Zone Development Co LtdChina 157,022,582 19,197,440 0.39 0.39

Shanghai Pudong Development Bank

Co LtdChina 28,244,204 3,453,111 0.01 0.01

Shengjing Bank Co Ltd China 56,790,797 6,943,192 0.15 0.15

Shenwan Hongyuan HK Ltd Hong Kong 9,703,725 1,186,369 0.47 0.47

Shenzhen Investment Ltd China 113,559,372 13,883,667 0.42 0.42

Shiga Bank Ltd/The Japan 174,451,263 21,328,255 1.57 1.57

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017196

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Shikoku Bank Ltd/The Japan 76,726,324 9,380,492 1.53 1.53

Shimao Property Holdings Ltd China 261,047,580 31,915,443 0.43 0.43

Shimizu Bank Ltd/The Japan 19,401,795 2,372,046 0.86 0.86

Shinhan Financial Group Co Ltd South Korea 2,396,303,720 292,969,945 1.34 1.34

Shining Building Business Co Ltd Taiwan 25,259,134 3,088,159 0.93 0.93

Shinsei Bank Ltd Japan 174,604,933 21,347,043 0.45 0.45

Shinyoung Securities Co Ltd South Korea 30,773,574 3,762,350 0.65 0.43

Shin Kong Financial Holding Co Ltd Taiwan 342,676,802 41,895,359 1.16 1.16

Shizuoka Bank Ltd/The Japan 398,085,715 48,669,603 0.73 0.73

Shopping Centres Australasia Property

GroupAustralia 138,991,865 16,993,021 1.21 1.21

Shriram Transport Finance Co Ltd India 106,521,364 13,023,206 0.25 0.25

Shui On Land Ltd Hong Kong 157,499,079 19,255,696 0.86 0.86

Siam Commercial Bank PCL/The Thailand 1,064,099,789 130,095,886 0.83 0.83

Siauliu Bankas AB Lithuania 25,204,852 3,081,523 0.96 0.96

Signature Bank/New York NYUnited

States595,575,349 72,814,508 0.97 0.97

Silver Grant International Industries Ltd Hong Kong 46,683,912 5,707,533 1.55 1.55

Sime Darby Property Bhd Malaysia 92,912,103 11,359,350 0.38 0.38

Simmons First National CorpUnited

States73,177,834 8,946,656 0.34 0.34

Simon Property Group IncUnited

States3,745,288,313 457,895,592 0.86 0.86

Singapore Exchange Ltd Singapore 561,272,677 68,620,694 1.15 1.15

Singha Estate PCL Thailand 129,263,343 15,803,621 2.16 2.16

Sinolink Worldwide Holdings Ltd China 12,305,217 1,504,425 0.32 0.32

SinoPac Financial Holdings Co Ltd Taiwan 418,667,936 51,185,967 1.43 1.43

Sino Land Co Ltd Hong Kong 423,116,525 51,729,847 0.45 0.45

Sino-Ocean Group Holding Ltd China 274,427,664 33,551,280 0.64 0.64

Sinyi Realty Inc Taiwan 25,948,619 3,172,455 0.37 0.37

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017197

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Six of October Development &

InvestmentEgypt 116,065,570 14,190,073 3.84 3.84

Skandinaviska Enskilda Banken AB Sweden 1,223,642,495 149,601,435 0.59 0.58

SK D&D Co Ltd South Korea 32,040,470 3,917,239 0.77 0.77

SK Securities Co Ltd South Korea 8,225,044 1,005,587 0.29 0.29

SLM CorpUnited

States182,838,501 22,353,671 0.46 0.46

SL Green Realty CorpUnited

States2,045,917,942 250,132,094 2.48 2.48

SmartCentres Real Estate Investment

TrustCanada 241,574,522 29,534,684 0.8 0.77

SmartGroup Corp Ltd Australia 105,005,364 12,837,862 1.23 1.23

SM Prime Holdings Inc Philippines 267,195,686 32,667,105 0.15 0.15

Sobha Ltd India 10,415,010 1,273,330 0.14 0.14

Societa Cattolica di Assicurazioni SC Italy 522,456,571 63,875,072 3.37 3.37

Societe Generale SA France 4,411,599,742 539,358,230 1.18 1.29

Societe Tunisienne d'Assurances et de

ReassurancesTunisia 8,188,849 1,001,161 1.08 1.08

Sofina SA Belgium 485,609,972 59,370,240 1.1 1.1

Soilbuild Business Space REIT Singapore 24,621,784 3,010,237 0.57 0.57

Sompo Holdings Inc Japan 4,684,146,476 572,679,550 3.56 3.56

Sonae Capital SGPS SA Portugal 16,751,162 2,047,982 0.77 0.77

Sonae Sierra Brasil SA Brazil 149,214,299 18,242,806 3.12 3.12

Sona Petroleum Bhd Malaysia 1,493 183 0.52 0.52

Sony Financial Holdings Inc Japan 406,345,218 49,679,402 0.64 0.64

Southeast Bank Ltd Bangladesh 59,961,253 7,330,809 3 3

South Indian Bank Ltd/The India 39,136,984 4,784,853 0.55 0.55

South State CorpUnited

States162,394,872 19,854,252 0.62 0.62

SOHO China Ltd China 71,808,500 8,779,243 0.29 0.29

Spar Nord Bank A/S Denmark 391,750,049 47,895,010 3.35 3.35

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017198

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Spirit Realty Capital IncUnited

States356,919,458 43,636,653 1.12 1.12

Spring Real Estate Investment Trust Hong Kong 21,344,804 2,609,597 0.48 0.48

Sprott Inc Canada 26,933,150 3,292,823 0.69 0.69

SPH REIT Singapore 60,535,550 7,401,022 0.37 0.37

SP Setia Bhd Group Malaysia 179,191,096 21,907,743 0.73 0.73

Srei Infrastructure Finance Ltd India 17,133,451 2,094,720 0.27 0.27

Srisawad Corp PCL Thailand 506,803,904 61,961,391 2.85 2.85

SRE Group Ltd China 2,494,790 305,011 0.06 0.06

Stanbic Holdings Plc Kenya 51,858,440 6,340,166 2.04 2.04

Stanbic IBTC Holdings PLC Nigeria 141,883,740 17,346,579 1.52 1.52

Standard Bank Group Ltd South Africa 1,414,741,440 172,965,020 0.68 0.68

Standard Chartered Bank Kenya Ltd Kenya 28,644,224 3,502,017 0.51 0.51

Standard Chartered PLCUnited

Kingdom5,981,774,818 731,326,428 2.1 2.1

Standard Life Aberdeen PLCUnited

Kingdom3,136,602,875 383,478,256 2.18 2.18

Starhill Global REIT Singapore 67,639,519 8,269,547 0.65 0.65

Starts Corp Inc Japan 93,281,981 11,404,571 0.81 0.81

Starts Proceed Investment Corp Japan 2,687,423 328,562 0.09 0.09

Starwood Property Trust IncUnited

States391,248,341 47,833,672 0.86 0.86

Star Asia Investment Corp Japan 4,452,260 544,329 0.13 0.13

State Auto Financial CorpUnited

States104,338,539 12,756,336 1.04 1.04

State Bank of India India 1,858,243,146 227,187,142 0.54 0.54

State Street CorpUnited

States2,760,998,051 337,557,147 0.93 0.93

Steadfast Group Ltd Australia 146,441,780 17,903,841 1.03 1.03

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017199

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Stenprop LtdUnited

Kingdom18,160,690 2,220,310 0.48 0.48

Sterling Bancorp/DEUnited

States122,788,019 15,011,953 0.27 0.27

Stifel Financial CorpUnited

States232,373,879 28,409,822 0.7 0.7

Stockland Australia 885,039,266 108,204,107 1.27 1.27

Stock Yards Bancorp IncUnited

States28,262,256 3,455,318 0.4 0.4

St Galler Kantonalbank AG Switzerland 285,245,233 34,873,827 1.26 1.26

St James's Place PLCUnited

Kingdom2,024,610,407 247,527,054 2.82 2.82

St Joe Co/TheUnited

States112,008,704 13,694,084 1.14 1.14

St Modwen Properties PLCUnited

Kingdom240,180,655 29,364,272 2.41 2.41

STAG Industrial IncUnited

States247,184,964 30,220,612 1.18 1.13

STORE Capital CorpUnited

States189,230,996 23,135,212 0.47 0.47

Sul America SA Brazil 82,406,485 10,074,943 0.45 0.45

Sumitomo Mitsui Financial Group Inc Japan 5,908,172,067 722,327,822 1.18 1.18

Sumitomo Mitsui Trust Holdings Inc Japan 2,125,342,745 259,842,499 1.68 1.68

Sumitomo Realty & Development Co

LtdJapan 1,239,361,064 151,523,173 0.97 0.97

Summarecon Agung Tbk PT Indonesia 154,927,546 18,941,303 1.88 1.88

Summit Hotel Properties IncUnited

States147,085,308 17,982,518 1.13 1.13

Summit Real Estate Holdings Ltd Israel 6,052,447 739,967 0.14 0.14

Sunac China Holdings Ltd China 716,466,034 87,594,495 0.48 0.48

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017200

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Suncorp Group Ltd Australia 1,336,578,424 163,408,880 1.16 1.16

Sunland Group Ltd Australia 20,511,860 2,507,762 1.18 1.18

Sunlight Real Estate Investment Trust Hong Kong 74,679,360 9,130,232 0.81 0.81

Sunshine 100 China Holdings Ltd China 15,663,477 1,915,003 0.16 0.16

Sunstone Hotel Investors IncUnited

States318,340,984 38,920,083 1.04 1.04

Suntec Real Estate Investment Trust Singapore 224,553,301 27,453,685 0.64 0.64

SunTrust Banks IncUnited

States1,806,911,893 220,911,428 0.72 0.72

Sunway Bhd Malaysia 194,488,300 23,777,965 1.21 1.21

Sunway Real Estate Investment Trust Malaysia 18,208,846 2,226,197 0.16 0.16

Sun Communities IncUnited

States494,074,197 60,405,068 0.82 0.82

Sun Frontier Fudousan Co Ltd Japan 47,938,134 5,860,873 1.07 1.07

Sun Hung Kai Properties Ltd Hong Kong 2,832,043,773 346,243,133 0.72 0.72

Sun Hung Kai & Co Ltd Hong Kong 131,279,503 16,050,114 1.17 1.17

Sun Life Financial Inc Canada 1,206,194,202 147,468,222 0.58 0.58

Supalai PCL Thailand 44,412,545 5,429,838 0.43 0.43

Suruga Bank Ltd Japan 213,998,350 26,163,247 0.53 0.53

Svenska Handelsbanken AB Sweden 1,403,585,257 171,601,075 0.65 0.64

Svolder AB Sweden 5,191,557 634,715 0.14 0.2

SVB Financial GroupUnited

States670,844,128 82,016,802 0.67 0.67

Swedbank AB Sweden 4,297,978,149 525,466,956 1.92 1.92

Swire Properties Ltd Hong Kong 411,812,961 50,347,884 0.27 0.27

Swissquote Group Holding SA Switzerland 42,099,921 5,147,099 0.86 0.86

Swiss Life Holding AG Switzerland 385,422,765 47,121,442 0.39 0.39

Swiss Prime Site AG Switzerland 1,006,671,424 123,074,746 1.86 1.86

Swiss Re AG Switzerland 5,419,233,735 662,550,659 2.02 2.02

Sydbank A/S Denmark 885,690,053 108,283,672 3.82 3.82

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017201

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Synchrony FinancialUnited

States2,175,388,488 265,961,047 0.88 0.88

Syndicate Bank India 10 1 0

Synovus Financial CorpUnited

States469,506,063 57,401,390 1 1

S IMMO AG Austria 299,005,773 36,556,178 2.82 2.82

S&P Global IncUnited

States2,610,928,162 319,209,737 0.74 0.74

S&T Bancorp IncUnited

States194,266,149 23,750,805 1.71 1.71

Taichung Commercial Bank Co Ltd Taiwan 107,346,545 13,124,092 1.2 1.2

Taishin Financial Holding Co Ltd Taiwan 474,597,885 58,023,912 1.25 1.25

Taiwan Acceptance Corp Taiwan 47,498,142 5,807,080 0.57 0.57

Taiwan Business Bank Taiwan 127,240,353 15,556,292 0.9 0.9

Taiwan Cooperative Financial Holding

Co LtdTaiwan 570,660,448 69,768,435 1.02 1.02

Taiwan Fire & Marine Insurance Co Ltd Taiwan 22,075,054 2,698,876 1.08 1.08

Taiwan Land Development Corp Taiwan 37,974,804 4,642,765 1.77 1.77

Takara Leben Co Ltd Japan 57,586,892 7,040,522 1.28 1.28

Talanx AG Germany 756,371,213 92,473,267 0.89 0.89

Tambun Indah Land Bhd Malaysia 18,162,741 2,220,560 2.03 2.03

Tamburi Investment Partners SpA Italy 70,046,286 8,563,796 0.8 0.8

Tanger Factory Outlet Centers IncUnited

States305,101,850 37,301,479 1.49 1.49

Taubman Centers IncUnited

States530,801,957 64,895,371 1.63 1.63

TAG Immobilien AG Germany 650,533,221 79,533,609 2.88 2.88

TCF Financial Corp

United

States 445,825,283 54,506,199 1.55 1.55

TCS Group Holding PLC Russia 885,212,881 108,225,333 0.6 3.14

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017202

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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TD Ameritrade Holding CorpUnited

States1,110,936,411 135,822,090 0.47 0.47

Technopolis OYJ Finland 39,534,377 4,833,438 0.61 0.61

Tecnoinvestimenti Spa Italy 42,770,128 5,229,038 1.56 1.56

Tejon Ranch CoUnited

States31,120,361 3,804,747 0.71 0.71

Tekfen Holding AS Turkey 422,780,687 51,688,788 3.12 3.12

Terreno Realty CorpUnited

States139,563,395 17,062,896 0.89 0.89

Texas Capital Bancshares IncUnited

States153,984,422 18,825,997 0.43 0.43

TFS Financial CorpUnited

States18,024,302 2,203,635 0.05 0.05

Thaire Life Assurance PCL Thailand 47,900,948 5,856,327 2.89 2.89

Thanachart Capital PCL Thailand 540,197,436 66,044,054 3.28 3.28

Third Point Reinsurance LtdUnited

States263,311,056 32,192,174 2.05 2.05

Tisco Financial Group PCL Thailand 99,153,691 12,122,441 0.56 0.56

TICON Industrial Connection PCL Thailand 768,277 93,929 0.01 0.01

TLG Immobilien AG Germany 556,792,115 68,072,905 2.45 2.45

TMB Bank PCL Thailand 152,492,094 18,643,547 0.46 0.46

TMX Group Ltd Canada 229,688,839 28,081,552 0.9 0.9

Tochigi Bank Ltd/The Japan 136,060,017 16,634,576 3.77 3.77

Toho Bank Ltd/The Japan 81,396,794 9,951,499 1.12 1.12

Tokai Tokyo Financial Holdings Inc Japan 177,895,427 21,749,335 1.25 1.25

Tokio Marine Holdings Inc Japan 3,896,412,813 476,371,938 1.4 1.4

Tokyo Century Corp Japan 455,038,056 55,632,545 1.07 1.07

Tokyo Rakutenchi Co Ltd Japan 23,157,907 2,831,265 0.8 0.8

Tokyo Tatemono Co Ltd Japan 291,525,822 35,641,686 1.22 1.22

Tokyo TY Financial Group Inc Japan 72,163,613 8,822,659 0.99 0.99

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017203

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Tokyu Fudosan Holdings Corp Japan 434,105,137 53,073,305 1.14 1.14

Tompkins Financial CorpUnited

States29,724,973 3,634,149 0.29 0.29

Tongyang Life Insurance Co Ltd South Korea 67,767,854 8,285,237 0.72 0.72

Topdanmark A/S Denmark 709,544,164 86,748,234 2.23 2.23

Torchmark CorpUnited

States1,031,740,700 126,139,693 1.2 1.2

Toronto-Dominion Bank/The Canada 7,893,920,385 965,103,631 0.89 0.89

Tosei Corp Japan 152,089,770 18,594,359 3.95 3.95

Tottori Bank Ltd/The Japan 1,437,823 175,787 0.12 0.12

Towa Bank Ltd/The Japan 75,216,386 9,195,888 1.82 1.82

Towne Bank/Portsmouth VAUnited

States94,527,893 11,556,896 0.6 0.6

Toyo Securities Co Ltd Japan 36,319,798 4,440,426 1.8 1.8

TOC Co Ltd Japan 85,626,487 10,468,618 0.89 0.89

TOMONY Holdings Inc Japan 109,712,635 13,413,368 1.59 1.59

TOWER LtdNew

Zealand3,959,201 484,048 0.3 0.3

TPG RE Finance Trust IncUnited

States31,163,324 3,810,000 0.33 0.33

TP ICAP PLCUnited

Kingdom794,826,225 97,174,742 2.44 2.44

Traction AB Sweden 1,483,222 181,337 0.02 0.05

Transaction Capital Ltd South Africa 219,692,173 26,859,368 3.26 3.26

Travelers Cos Inc/TheUnited

States2,083,748,996 254,757,285 0.69 0.69

Triangle Capital CorpUnited

States11,213,744 1,370,982 0.3 0.3

Trisura Group Ltd Canada 7,015,396 857,696 0.61 0.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017204

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Tritax Big Box REIT PLCUnited

Kingdom540,495,337 66,080,475 2.41 2.41

TrustCo Bank Corp NYUnited

States172,187,397 21,051,477 2.38 2.38

Trustmark Corp

United

States 180,280,035 22,040,875 1.02 1.02

Tryg A/S Denmark 955,973,048 116,876,408 1.55 1.55

Tsukuba Bank Ltd Japan 42,354,234 5,178,191 1.83 1.83

Tune Protect Group Bhd Malaysia 34,073,996 4,165,856 2.14 2.14

Tunisie Leasing SA Tunisia 6,780,773 829,011 1.64 1.64

Turkiye Garanti Bankasi AS Turkey 1,063,238,542 129,990,591 1.09 1.09

Turkiye Is Bankasi Turkey 495,102,728 60,530,816 0.73 0.73

Turkiye Sinai Kalkinma Bankasi AS Turkey 197,267,430 24,117,739 2.65 2.65

Turkiye Vakiflar Bankasi TAO Turkey 26,287,994 3,213,947 0.07 0.07

Two Harbors Investment CorpUnited

States231,504,544 28,303,538 1 1

T Rowe Price Group IncUnited

States2,000,332,691 244,558,882 0.96 0.96

T&D Holdings Inc Japan 1,635,479,752 199,952,289 1.78 1.78

UBS Group AG Switzerland 18,787,488,217 2,296,941,471 3.24 3.24

UCO Bank India 6,647,871 812,763 0.09 0.09

UDR IncUnited

States793,225,434 96,979,031 0.94 0.94

UK Commercial Property Trust Ltd/fundUnited

Kingdom457,851 55,976 0

Umpqua Holdings CorpUnited

States507,416,709 62,036,312 1.35 1.35

UMB Financial CorpUnited

States215,656,872 26,366,016 0.74 0.74

Unibail-Rodamco SE Netherlands 4,111,956,712 502,724,142 2 2

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017205

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Unicaja Banco SA Spain 567,992,718 69,442,281 2.73 2.73

UniCredit SpA Italy 8,056,581,196 984,990,396 2.37 2.37

Unifin Financiera SAB de CV SOFOM

ENRMexico 13,117,143 1,603,690 0.13 0.13

Unione di Banche Italiane SpA Italy 1,212,561,891 148,246,730 2.96 2.96

Union Bankshares CorpUnited

States168,815,675 20,639,253 1.3 1.3

Union Bank of India India 93,154,216 11,388,951 0.59 0.59

Union Financiere de France BQE SA France 19,989,662 2,443,918 0.42 0.42

Union National Bank PJSCUnited Arab

Emirates300,131,650 36,693,827 1.29 1.29

UnipolSai Assicurazioni SpA Italy 734,448,910 89,793,065 1.36 1.36

Unipol Gruppo SpA Italy 738,609,111 90,301,688 2.68 2.68

Unitech Ltd India 13,721,779 1,677,612 0.43 0.43

United Bankshares Inc/WVUnited

States259,408,122 31,715,005 0.87 0.87

United Bank for Africa PLC Nigeria 87,594,864 10,709,270 1.09 1.09

United Community Banks Inc/GAUnited

States220,197,460 26,921,144 1.3 1.3

United Financial Bancorp IncUnited

States9,134,459 1,116,771 0.12 0.12

United Fire Group IncUnited

States240,126,640 29,357,668 2.59 2.59

United Housing & Development Egypt 14,717,056 1,799,294 2.98 2.98

United Insurance Holdings CorpUnited

States7,008,270 856,825 0.12 0.12

United Overseas Bank Ltd Singapore 2,165,762,854 264,784,225 0.8 0.8

Uniti Group IncUnited

States158,095,706 19,328,639 0.62 0.6

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017206

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Universal Health Realty Income TrustUnited

States99,444,379 12,157,981 1.18 1.18

Universal Medical Financial & Technical

Advisory Services Co LtdChina 57,641,022 7,047,140 0.43 0.43

Unizo Holdings Co Ltd Japan 53,434,788 6,532,889 0.84 0.84

Unum GroupUnited

States1,171,496,146 143,226,069 1.16 1.16

UNIQA Insurance Group AG Austria 566,593,511 69,271,215 2.12 2.12

UNITE Group PLC/TheUnited

Kingdom530,890,910 64,906,247 2.47 2.47

UOA Development Bhd Malaysia 11,591,038 1,417,110 0.14 0.14

UOB-Kay Hian Holdings Ltd Singapore 28,898,806 3,533,142 0.44 0.44

UOL Group Ltd Singapore 405,547,004 49,581,813 0.89 0.89

Urban Edge PropertiesUnited

States303,108,261 37,057,744 1.28 1.28

Urstadt Biddle Properties IncUnited

States77,018,773 9,416,246 0.19 1.1

US BancorpUnited

States6,073,496,170 742,540,198 0.84 0.84

U City PCL Thailand 2,740,923 335,103 0.06 0.06

U & I Group PLCUnited

Kingdom5,783,290 707,060 0.22 0.22

Valiant Holding AG Switzerland 380,158,003 46,477,777 2.72 2.72

Validus Holdings LtdUnited

States457,910,474 55,983,724 1.5 1.5

Valley National BancorpUnited

States218,257,764 26,683,999 0.9 0.9

Value Partners Group Ltd Hong Kong 14,572,433 1,781,613 0.09 0.09

Van Phu - Invest Investment JSC Vietnam 45,002,330 5,501,945 2.06

Vastned Retail NV Netherlands 196,052,143 23,969,159 2.66 2.66

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017207

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ventas IncUnited

States1,329,661,223 162,563,189 0.76 0.76

VEREIT IncUnited

States601,848,432 73,581,450 0.97 0.97

Vicinity Centres Australia 705,023,634 86,195,558 1.05 1.05

Vienna Insurance Group AG Wiener

Versicherung GruppeAustria 572,851,352 70,036,293 1.78 1.78

Vietnam Joint Stock Commercial Bank

for Industry and TradeVietnam 18,152,422 2,219,299 0.06 0.06

Vietnam Prosperity JSC Bank Vietnam 69,036,468 8,440,337 0.31 0.31

Viet Capital Securities JSC Vietnam 70,936,046 8,672,577 2.1 2.1

Vijaya Bank India 4,884,890 597,222 0.05 0.05

Vincom Retail JSC Vietnam 169,101,076 20,674,146 0.52 0.52

Vingroup JSC Vietnam 97,725,174 11,947,792 0.13 0.13

Virgin Money Holdings UK PLCUnited

Kingdom 261,313,785 31,947,989 1.87 1.87

Virtus Investment Partners IncUnited

States110,546,113 13,515,269 1.64 1.64

Virtu Financial IncUnited

States9,182,847 1,122,687 0.01 0.03

Visa IncUnited

States14,877,622,576 1,818,924,802 0.88 0.7

Vision Fame International Holding Ltd Hong Kong 3,681,435 450,089 0.19 0.19

Vittoria Assicurazioni SpA Italy 104,815,048 12,814,594 1.33 1.33

Viva Energy REIT Australia 18,554,743 2,268,486 0.18 0.18

Vonovia SE Germany 14,561,858,152 1,780,319,726 7.38 7.38

Vontobel Holding AG Switzerland 319,463,038 39,057,265 1.07 1.07

Vornado Realty TrustUnited

States7,855,416,578 960,396,190 6.47 6.47

Vostok Emerging Finance Ltd Sweden 1,088,262 133,050 0.08 0.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017208

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Voya Financial IncUnited

States707,218,205 86,463,864 0.97 0.97

VP Bank AG Switzerland 52,496,050 6,418,120 0.39 0.39

VTB Bank PJSC Russia 322,899,468 39,477,399 0.37 0.37

VZ Holding AG Switzerland 156,357,214 19,116,093 0.7 0.7

Waddell & Reed Financial IncUnited

States233,812,673 28,585,728 1.53 1.53

Wafa Assurance Morocco 12,995,458 1,588,813 0.09 0.09

Walaa Cooperative Insurance CoSaudi

Arabia105,662,162 12,918,161 3.78

Walker & Dunlop IncUnited

States133,286,925 16,295,540 1.1 1.1

Wallenstam AB Sweden 289,222,032 35,360,026 0.57 1.11

Warehouses De Pauw CVA Belgium 526,412,997 64,358,781 2.61 2.61

Warehouses Estates Belgium SCA Belgium 72,291,995 8,838,355 3.87 3.87

Washington Federal IncUnited

States307,770,975 37,627,804 1.27 1.27

Washington Prime Group IncUnited

States 129,678,071 15,854,325 1.2 1.2

Washington Real Estate Investment

Trust

United

States217,931,705 26,644,135 1.09 1.09

Washington Trust Bancorp IncUnited

States96,181,285 11,759,038 1.28 1.28

Waterland Financial Holdings Co Ltd Taiwan 103,677,371 12,675,502 1.43 1.43

Webster Financial CorpUnited

States282,528,764 34,541,713 0.67 0.67

Weingarten Realty InvestorsUnited

States258,801,931 31,640,892 0.75 0.75

Wells Fargo & CoUnited

States21,626,205,332 2,644,000,481 0.89 0.89

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017209

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Welltower IncUnited

States1,629,983,268 199,280,293 0.84 0.84

Wendel SA France 1,060,151,328 129,613,151 1.07 1.62

Wereldhave Belgium NV Belgium 57,763,866 7,062,158 0.89 0.89

Wereldhave NV Netherlands 489,251,111 59,815,402 3.09 3.09

WesBanco IncUnited

States235,611,468 28,805,647 1.61 1.61

Western Alliance BancorpUnited

States386,978,261 47,311,615 0.79 0.79

Western Union Co/TheUnited

States788,616,024 96,415,488 1.1 1.1

Westfield Corp Australia 1,286,974,379 157,344,334 1.02 1.02

Westpac Banking Corp Australia 6,171,668,648 754,542,677 0.95 0.95

Weyerhaeuser CoUnited

States2,205,163,472 269,601,310 1.01 1.01

Wharf Holdings Ltd/The Hong Kong 502,082,778 61,384,190 0.59 0.59

Wharf Real Estate Investment Co Ltd Hong Kong 1,089,665,012 133,221,468 0.66 0.66

Wheelock & Co Ltd Hong Kong 888,317,396 108,604,889 0.75 0.75

White Mountains Insurance Group LtdUnited

States270,968,881 33,128,412 1.04 1.04

Wihlborgs Fastigheter AB Sweden 392,185,666 47,948,268 2.6 2.6

Willis Towers Watson PLCUnited

States1,245,999,494 152,334,781 0.77 0.77

Wing Tai Holdings Ltd Singapore 53,497,249 6,540,526 0.5 0.5

Wintrust Financial CorpUnited

States295,607,791 36,140,744 0.78 0.78

WisdomTree Investments IncUnited

States716,606 87,612 0.01 0.01

Wiz Solucoes e Corretagem de

Seguros SABrazil 20,264,820 2,477,559 0.44 0.44

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017210

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Woori Bank South Korea 973,161,933 118,977,906 1.2 1.2

Workspace Group PLCUnited

Kingdom588,120,998 71,903,146 3.24 3.24

WP Carey IncUnited

States528,059,310 64,560,058 0.88 0.88

WR Berkley CorpUnited

States657,583,743 80,395,599 0.92 0.92

WSFS Financial CorpUnited

States98,850,543 12,085,379 0.8 0.8

Wuestenrot & Wuerttembergische AG Germany 132,622,496 16,214,307 0.62 0.62

Xafinity PLCUnited

Kingdom65,767,409 8,040,665 2.27 2.27

Xenia Hotels & Resorts IncUnited

States252,470,112 30,866,770 1.34 1.34

XL Group LtdUnited

States922,080,779 112,732,770 1.25 1.25

Yamagata Bank Ltd/The Japan 57,496,621 7,029,485 0.95 0.95

Yamaguchi Financial Group Inc Japan 262,530,749 32,096,774 1.02 1.02

Yamanashi Chuo Bank Ltd/The Japan 106,920,112 13,071,957 1.71 1.71

Yanlord Land Group Ltd China 119,979,717 14,668,613 0.63 0.63

Yapi ve Kredi Bankasi AS Turkey 193,766,754 23,689,750 0.48 0.48

Yes Bank Ltd India 216,978,838 26,527,638 0.23 0.23

Ying Li International Real Estate Ltd China 13,799,849 1,687,157 0.58 0.58

Yixin Group Ltd China 6,560,388 802,067 0.02 0.02

Yuanta Financial Holding Co Ltd Taiwan 579,213,066 70,814,070 1.27 1.27

Yuanta Securities Korea Co Ltd South Korea 1,491,394 182,336 0.03 0.02

Yuexiu Property Co Ltd China 114,101,315 13,949,924 0.6 0.6

Yuexiu Real Estate Investment Trust Hong Kong 96,053,294 11,743,390 0.61 0.61

Yuzhou Properties Co Ltd China 84,334,923 10,310,712 0.46 0.46

Zagrebacka Banka dd Croatia 3,816,715 466,628 0.02 0.02

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017211

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Zavarovalnica Triglav DD Slovenia 10,413,567 1,273,153 0.16 0.16

Zeder Investments Ltd South Africa 380,852,450 46,562,679 4.87 4.87

Zenith Bank PLC Nigeria 90,021,170 11,005,908 0.49 0.49

Zenkoku Hosho Co Ltd Japan 289,275,502 35,366,564 1.19 1.19

ZhongAn Online P&C Insurance Co Ltd China 50,756,689 6,205,467 0.05 0.05

Zillow Group IncUnited

States452,010,968 55,262,456 0.39 0.72

Zions BancorporationUnited

States427,175,940 52,226,148 0.51 0.51

Zurich Insurance Group AG Switzerland 8,260,270,965 1,009,893,325 2.19 2.19

HEALTH CARE

3SBio Inc China 287,471,689 35,146,031 0.71 0.71

a2 Milk Co LtdNew

Zealand372,542,691 45,546,736 1.1 1.1

Abaxis IncUnited

States250,141,425 30,582,066 2.72 2.72

Abbott LaboratoriesUnited

States8,209,746,330 1,003,716,228 1.01 1.01

AbbVie IncUnited

States10,117,931,169 1,237,009,196 0.8 0.8

Abcam PLCUnited

Kingdom10,758,810 1,315,362 0.05 0.05

Ablynx NV Belgium 54,695,746 6,687,053 0.36 0.36

ABIOMED IncUnited

States817,912,840 99,997,291 1.21 1.21

AB Science SA France 82 10 0

Acadia Healthcare Co IncUnited

States93,068,243 11,378,440 0.4 0.4

Acceleron Pharma IncUnited

States139,773,239 17,088,551 0.89 0.89

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017212

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Accuray IncUnited

States34,323,262 4,196,331 1.16 1.16

Achillion Pharmaceuticals IncUnited

States20,189,735 2,468,379 0.62 0.62

Acme Laboratores Ltd/The Bangladesh 70,542,346 8,624,444 2.97 2.97

Acorda Therapeutics IncUnited

States169,797,311 20,759,267 2.07 2.07

Acrux Ltd Australia 1,614,915 197,438 1.01 1.01

ACADIA Pharmaceuticals IncUnited

States197,145,106 24,102,784 0.64 0.64

Aduro Biotech IncUnited

States17,573,967 2,148,577 0.37 0.37

ADWYA SA Tunisia 6,616,396 808,915 1.83 1.83

Aerie Pharmaceuticals IncUnited

States126,007,643 15,405,581 0.7 0.7

Aetna IncUnited

States4,712,400,908 576,133,911 0.98 0.98

AfroCentric Investment Corp Ltd South Africa 66,846,395 8,172,580 2.85 2.85

Agios Pharmaceuticals IncUnited

States147,988,431 18,092,933 0.65 0.65

Aileron Therapeutics IncUnited

States4,310,517 527,000 0.34 0.34

Ajanta Pharma Ltd India 10,079,218 1,232,276 0.06 0.06

Akebia Therapeutics IncUnited

States55,531,574 6,789,241 0.97 0.97

Akorn IncUnited

States321,594,805 39,317,893 0.98 0.98

Alder Biopharmaceuticals IncUnited

States4,227,990 516,910 0.07 0.07

Alembic Pharmaceuticals Ltd India 14,257,096 1,743,060 0.11 0.11

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017213

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Alexion Pharmaceuticals IncUnited

States3,357,599,453 410,497,100 1.54 1.54

Alfresa Holdings Corp Japan 423,078,309 51,725,175 0.94 0.94

Align Technology IncUnited

States1,394,675,010 170,511,717 0.96 0.96

Alkermes PLCUnited

States293,745,038 35,913,005 0.43 0.43

Allergan PLCUnited

States4,443,015,759 543,199,125 1 1

Allergy Therapeutics PLCUnited

Kingdom24,281,488 2,968,633 1.3 1.3

Alliar Medicos A Frente SA Brazil 37,162,501 4,543,454 0.86 0.86

Alligator Bioscience AB Sweden 4,605,339 563,045 0.28 0.28

Almirall SA Spain 200,749,695 24,543,478 1.39 1.39

Alnylam Pharmaceuticals IncUnited

States771,347,549 94,304,260 0.75 0.75

Al Hammadi Development and

Investment Co

Saudi

Arabia38,102,460 4,658,373 0.4

ALK-Abello A/S Denmark 194,022,033 23,720,960 1.03 1.8

Ambea AB Sweden 10,545,919 1,289,335 0.21 0.21

Ambu A/S Denmark 632,883,503 77,375,770 0.77 1.73

Amedisys IncUnited

States219,134,830 26,791,228 1.5 1.5

Amgen IncUnited

States9,452,571,210 1,155,662,884 0.92 0.92

Amicus Therapeutics IncUnited

States146,882,770 17,957,756 0.75 0.75

Amplifon SpA Italy 756,589,713 92,499,980 2.65 2.65

AMAG Pharmaceuticals IncUnited

States80,162,329 9,800,574 2.09 2.09

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017214

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Analogic CorpUnited

States222,196,695 27,165,569 2.6 2.6

AngioDynamics IncUnited

States73,296,045 8,961,109 1.47 1.47

Ansell Ltd Australia 326,115,261 39,870,560 1.46 1.46

Anthem IncUnited

States4,405,384,305 538,598,337 0.93 0.93

Anxin-China Holdings Ltd China 1,705,910 208,563 1.07 1.07

Apellis Pharmaceuticals IncUnited

States13,311,892 1,627,500 0.15 0.15

Apollo Hospitals Enterprise Ltd India 44,205,168 5,404,484 0.21 0.21

Aprogen pharmaceuticals Inc South Korea 13,557,581 1,657,538 0.51 0.51

Arena Pharmaceuticals IncUnited

States18,780,330 2,296,066 0.17 0.17

Argenx SE Netherlands 134,118,145 16,397,164 0.81 0.81

Arjo AB Sweden 90,772,963 11,097,821 0.89 1.43

Array BioPharma IncUnited

States184,157,084 22,514,880 0.89 0.89

Asahi Intecc Co Ltd Japan 383,422,359 46,876,874 1.05 1.05

Ascendis Health Ltd South Africa 45,381,787 5,548,337 0.86 0.86

Aspen Pharmacare Holdings Ltd South Africa 931,327,912 113,863,316 1.11 1.11

Astellas Pharma Inc Japan 2,944,884,219 360,038,905 1.36 1.36

AstraZeneca PLCUnited

Kingdom14,623,922,453 1,787,907,652 2.04 2.04

As One Corp Japan 122,079,536 14,925,335 1.15 1.15

ASKA Pharmaceutical Co Ltd Japan 61,010,877 7,459,135 1.38 1.38

Atara Biotherapeutics IncUnited

States51,437,480 6,288,700 1.14 1.14

Attendo AB Sweden 375,872,146 45,953,792 2.65 2.65

ATGen Co Ltd South Korea 10,640,229 1,300,865 0.29 0.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017215

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Aurobindo Pharma Ltd India 251,329,556 30,727,326 0.49 0.49

Avexis IncUnited

States309,941,636 37,893,187 1.07 1.07

A&D Co Ltd Japan 10,381,697 1,269,257 0.71 0.71

Bachem Holding AG Switzerland 248,768,790 30,414,249 1.44 1.44

Bangkok Chain Hospital PCL Thailand 307,434,641 37,586,684 3.03 3.03

Bangkok Dusit Medical Services PCL Thailand 363,204,267 44,405,028 0.45 0.45

Banmedica SA Chile 176,825,281 21,618,500 0.77 0.77

Basilea Pharmaceutica AG Switzerland 57,578,543 7,039,501 0.76 0.76

Bavarian Nordic A/S Denmark 191,626,685 23,428,107 2.01 2.01

Baxter International IncUnited

States3,879,164,930 474,263,228 1.35 1.35

Becton Dickinson and CoUnited

States3,784,647,414 462,707,601 0.81 0.81

BeiGene Ltd China 85,932,845 10,506,073 0.24 0.24

Beijing Tong Ren Tang Chinese

Medicine Co LtdHong Kong 148,309,916 18,132,237 1.59 1.59

Beximco Pharmaceuticals Ltd Bangladesh 117,462,695 14,360,884 2.84 2.84

Binex Co Ltd South Korea 16,211,585 1,982,014 0.63 0.63

BioArctic AB Sweden 20,779,295 2,540,458 0.37 0.91

Biocon Ltd India 91,377,161 11,171,690 0.22 0.22

Biogen IncUnited

States5,299,966,467 647,969,150 0.96 0.96

BioGaia AB Sweden 149,471,373 18,274,236 1.91 2.65

Biohaven Pharmaceutical Holding Co

Ltd

United

States11,033,943 1,349,000 0.14 0.14

Biom'Up SACA France 26,841,218 3,281,583 1.83 1.83

BioMarin Pharmaceutical IncUnited

States581,763,757 71,125,915 0.45 0.45

BioMerieux France 1,100,262,430 134,517,099 0.76 1.27

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017216

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Bioquell PLCUnited

Kingdom5,118,356 625,766 0.77 0.77

Biotage AB Sweden 77,799,719 9,511,724 1.43 1.43

Biotest AG Germany 80,260,583 9,812,587 1.02

Bioverativ IncUnited

States655,220,568 80,106,679 1.37 1.37

Bio-Rad Laboratories IncUnited

States340,207,780 41,593,498 0.23 0.59

Bio-Techne CorpUnited

States522,763,407 63,912,586 1.32 1.32

Bluebird Bio IncUnited

States580,153,422 70,929,037 0.81 0.81

Blueprint Medicines CorpUnited

States479,093,247 58,573,511 1.81 1.81

BML Inc Japan 133,727,686 16,349,427 1.49 1.49

Boiron SA France 238,211,364 29,123,508 1.02 1.67

Boryung Pharmaceutical Co Ltd South Korea 17,816,027 2,178,172 0.55 0.55

Boston Scientific CorpUnited

States3,214,385,276 392,987,863 1.15 1.15

Boule Diagnostics AB Sweden 20,899,176 2,555,115 1.65 1.65

Bristol-Myers Squibb CoUnited

States6,960,571,856 850,993,276 0.85 0.85

Brookdale Senior Living IncUnited

States170,507,748 20,846,125 1.15 1.15

Bruker CorpUnited

States557,682,473 68,181,759 1.28 1.28

BTG PLCUnited

Kingdom708,140,921 86,576,674 2.17 2.17

Bukwang Pharmaceutical Co Ltd South Korea 58,534,616 7,156,390 0.66 0.66

Bumrungrad Hospital PCL Thailand 206,140,757 25,202,584 0.6 0.6

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017217

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cadila Healthcare Ltd India 605,550,514 74,034,063 1.06 1.06

Calyxt IncUnited

States1,556,671 190,317 0.03 0.03

Cambian Group PLCUnited

Kingdom13,904,692 1,699,975 0.35 0.35

Camurus AB Sweden 663,019 81,060 0.01 0.01

Cantel Medical CorpUnited

States528,742,719 64,643,611 1.5 1.5

Capio AB Sweden 30,210,702 3,693,533 0.47 0.47

Capitol Health Ltd Australia 5,155,907 630,357 0.35 0.35

Cardiovascular Systems IncUnited

States110,762,122 13,541,678 1.68 1.68

Caregen Co Ltd South Korea 10,118,913 1,237,129 0.14 0.14

CareTech Holdings PLCUnited

Kingdom30,161,691 3,687,541 0.84 0.84

Carl Zeiss Meditec AG Germany 702,493,205 85,886,190 1.54 1.54

Carna Biosciences Inc Japan 3,955,886 483,643 0.51 0.51

Catalent IncUnited

States384,518,137 47,010,843 0.86 0.86

Celgene CorpUnited

States5,446,884,185 665,931,179 0.81 0.81

Cellavision AB Sweden 20,181,797 2,467,408 0.59 0.59

Cellectis SA France 65,328,085 7,986,953 0.68 0.78

Cellnovo Group SA France 15,774,168 1,928,536 2.87 2.9

Celltrion Healthcare Co Ltd South Korea 782,590,701 95,678,838 0.67 0.67

Celltrion Inc South Korea 1,826,277,325 223,279,029 0.86 0.86

Celltrion Pharm Inc South Korea 66,322,710 8,108,555 0.42 0.42

Centene CorpUnited

States1,196,935,205 146,336,225 0.84 0.84

Cerus CorpUnited

States28,540,751 3,489,367 0.9 0.9

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017218

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Changchun High & New Technology

Industries IncChina 42,491,835 5,195,014 0.11 0.11

Charles River Laboratories International

Inc

United

States461,179,452 56,383,386 1.09 1.09

China Animal Healthcare Ltd Hong Kong 17,408,571 2,128,356 1.41 1.41

China Animal Husbandry Industry Co Ltd China 93,561,980 11,438,804 0.88 0.88

China Biologic Products Holdings Inc China 170,176,275 20,805,599 0.97 0.97

China Chemical & Pharmaceutical Co

LtdTaiwan 36,041,569 4,406,410 2.36 2.36

China Medical System Holdings Ltd China 1,047,834,433 128,107,299 2.21 2.21

China National Accord Medicines Corp

LtdChina 81,417,653 9,954,049 0.32 0.32

China Resources Pharmaceutical Group

Ltd

China 236,975,040 28,972,356 0.36 0.36

China Resources Phoenix Healthcare

Holdings Co LtdChina 25,461,506 3,112,901 0.19 0.19

China Shineway Pharmaceutical Group

LtdChina 86,634,606 10,591,869 1.37 1.37

China Traditional Chinese Medicine

Holdings Co LtdChina 134,035,997 16,387,121 0.69 0.69

Chongkundang Holdings Corp South Korea 32,132,573 3,928,500 1.16 1.16

Chong Kun Dang Pharmaceutical Corp South Korea 107,183,630 13,104,175 1.08 1.08

Chr Hansen Holding A/S Denmark 935,261,759 114,344,264 0.92 0.92

Chugai Pharmaceutical Co Ltd Japan 1,020,907,729 124,815,264 0.44 0.44

Chularat Hospital PCL Thailand 80,453,428 9,836,164 1.39 1.39

CHC Healthcare Group Taiwan 5,129,874 627,174 0.38 0.38

Cigna CorpUnited

States3,803,495,277 465,011,924 0.93 0.93

Cipla Ltd/India India 1,183,329,133 144,672,759 1.89 1.89

Claris Lifesciences Ltd India 74,148,911 9,065,379 2.98 2.98

Clementia Pharmaceuticals Inc Canada 7,762,203 949,000 0.16 0.16

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017219

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Clinigen Group PlcUnited

Kingdom69,229,964 8,463,993 0.5 0.5

Clovis Oncology IncUnited

States275,681,785 33,704,608 1.01 1.01

CMG Pharmaceutical Co Ltd South Korea 38,812,277 4,745,154 0.75 0.75

CMIC Holdings Co Ltd Japan 52,774,777 6,452,197 1.9 1.9

Cochlear Ltd Australia 691,739,852 84,571,494 1.1 1.1

Coloplast A/S Denmark 1,394,766,140 170,522,858 0.57 0.99

Coltene Holding AG Switzerland 20,095,703 2,456,883 0.6 0.6

Community Health Systems IncUnited

States41,384,047 5,059,576 1.04 1.04

Consun Pharmaceutical Group Ltd China 83,901,906 10,257,772 1.3 1.3

ConvaTec Group PLCUnited

Kingdom627,799,165 76,754,163 1.41 1.41

Cooper Cos Inc/The United

States

924,622,776 113,043,552 1.06 1.06

CorVel CorpUnited

States192,560,700 23,542,299 2.36 2.36

CONMED CorpUnited

States153,830,389 18,807,165 1.32 1.32

COSMO Pharmaceuticals NV Switzerland 130,154,773 15,912,606 0.7 0.7

CrystalGenomics Inc South Korea 11,372,326 1,390,370 0.24 0.24

CSL Ltd Australia 3,917,194,829 478,912,729 0.96 0.96

CSPC Pharmaceutical Group Ltd China 1,536,927,491 187,903,378 1.49 1.49

CYBERDYNE Inc Japan 80,092,302 9,792,013 0.06 0.26

Daewon Pharmaceutical Co Ltd South Korea 8,058,674 985,246 0.27 0.27

Daewoong Co Ltd South Korea 71,597,768 8,753,479 0.83 0.83

Daewoong Pharmaceutical Co Ltd South Korea 77,309,134 9,451,745 0.53 0.53

Dae Hwa Pharmaceutical Co Ltd South Korea 12,333,361 1,507,866 0.36 0.36

Daihan Pharmaceutical Co Ltd South Korea 54,871,406 6,708,529 2.92 2.92

Daiichi Sankyo Co Ltd Japan 1,918,128,219 234,508,637 1.27 1.27

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017220

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Daito Pharmaceutical Co Ltd Japan 41,453,242 5,068,036 1.43 1.43

Dallah Healthcare CoSaudi

Arabia173,314,824 21,189,315 1.34

DaVita IncUnited

States2,519,911,259 308,082,092 2.33 2.33

Dawnrays Pharmaceutical Holdings Ltd China 24,805,006 3,032,638 0.7 0.7

DBV Technologies SA France 217,014,631 26,532,014 2.11 2.11

Dechra Pharmaceuticals PLCUnited

Kingdom568,124,978 69,458,451 2.62 2.62

Deciphera Pharmaceuticals IncUnited

States13,906,940 1,700,250 0.24 0.24

Denali Therapeutics IncUnited

States83,151,272 10,166,000 0.74 0.74

Dentium Co Ltd South Korea 86,434,537 10,567,409 1.64 1.64

Depomed IncUnited

States47,775,448 5,840,983 1.15 1.15

DexCom Inc United

States

167,995,365 20,538,963 0.41 0.41

DENTSPLY SIRONA IncUnited

States597,054,909 72,995,398 0.48 0.48

DiaSorin SpA Italy 732,346,613 89,536,041 1.8 1.8

Dishman Carbogen Amcis Ltd India 82,053,590 10,031,798 1.22 1.22

Divi's Laboratories Ltd India 639,034,068 78,127,732 1.71 1.71

DongKook Pharmaceutical Co Ltd South Korea 61,682,620 7,541,262 1.43 1.43

Dongwha Pharm Co Ltd South Korea 6,175,786 755,046 0.3 0.3

Dong-A Socio Holdings Co Ltd South Korea 53,232,441 6,508,150 0.89 0.89

Dong-A ST Co Ltd South Korea 35,603,825 4,352,892 0.55 0.55

Draegerwerk AG & Co KGaA Germany 346,949,550 42,417,741 3.2 3.03

Dr Reddy's Laboratories Ltd India 147,295,876 18,008,262 0.29 0.29

Dyax CorpUnited

States28,517,402 3,486,512 1.18

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017221

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Eagle Pharmaceuticals Inc/DEUnited

States39,812,742 4,867,470 0.61 0.61

EBOS Group LtdNew

Zealand184,654,888 22,575,741 1.12 1.12

Edwards Lifesciences CorpUnited

States2,860,950,353 349,777,226 1.47 1.47

Egyptian International Pharmaceuticals

EIPICOEgypt 59,547,275 7,280,196 1.17 1.17

Eiken Chemical Co Ltd Japan 170,400,579 20,833,022 2 2

Eisai Co Ltd Japan 1,348,563,043 164,874,109 0.98 0.98

Elekta AB Sweden 286,093,235 34,977,502 0.82 1.1

Eli Lilly & CoUnited

States5,727,634,093 700,255,411 0.75 0.75

Emergent BioSolutions IncUnited

States196,367,407 24,007,703 1.25 1.25

Endologix IncUnited

States27,278,636 3,335,062 0.75 0.75

Endo International PLCUnited

States97,595,313 11,931,916 0.69 0.69

Ensign Group Inc/TheUnited

States83,435,824 10,200,789 0.9 0.9

Envision Healthcare CorpUnited

States313,618,893 38,342,765 0.92 0.92

EOS Imaging SA France 29,623,502 3,621,743 2.81 2.81

Epizyme IncUnited

States110,965,766 13,566,575 1.56 1.56

EPS Holdings Inc Japan 287,015,642 35,090,275 3.35 3.35

Eris Lifesciences Ltd India 116,821,113 14,282,445 0.83 0.83

Erytech Pharma SA France 32,561,837 3,980,981 0.92 1

Essilor International Cie Generale

d'Optique SAFrance 3,722,536,772 455,114,009 1.4 1.51

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017222

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Estia Health Ltd Australia 110,080,287 13,458,317 2.62 2.62

Eurofins Scientific SE France 995,804,206 121,746,130 0.76 1.13

Evotec AG Germany 490,664,974 59,988,260 2.51 2.51

Exact Sciences CorpUnited

States491,380,665 60,075,760 0.96 0.96

Exelixis IncUnited

States578,489,436 70,725,600 0.79 0.79

Express Scripts Holding CoUnited

States3,407,956,370 416,653,691 0.99 0.99

Faes Farma SA Spain 272,767,142 33,348,266 3.61 3.61

FALCO HOLDINGS Co Ltd Japan 14,240,215 1,740,996 0.97 0.97

FibroGen IncUnited

States257,828,270 31,521,853 0.81 0.81

Fisher & Paykel Healthcare Corp LtdNew

Zealand580,764,736 71,003,776 1.22 1.22

Five Prime Therapeutics IncUnited

States42,617,554 5,210,384 0.82 0.82

Fleury SA Brazil 233,347,616 28,528,870 1.01 1.01

Fluidigm CorpUnited

States7,911,476 967,250 0.42 0.42

Fresenius Medical Care AG & Co

KGaA

Germany 6,389,621,955 781,189,453 2.39 2.39

Fresenius SE & Co KGaA Germany 7,050,654,803 862,006,737 1.97 1.97

Fuji Pharma Co Ltd Japan 48,679,184 5,951,473 0.99 0.99

Fukuda Denshi Co Ltd Japan 4,003,706 489,490 0.03 0.03

Fuso Pharmaceutical Industries Ltd Japan 13,098,461 1,601,406 0.66 0.66

G1 Therapeutics IncUnited

States6,491,132 793,600 0.14 0.14

Galapagos NV Netherlands 548,778,529 67,093,171 1.39 1.39

Genexine Co Ltd South Korea 25,525,716 3,120,751 0.23 0.23

Genfit France 78,666,635 9,617,712 0.99 1.07

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017223

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Genmab A/S Denmark 1,036,230,507 126,688,613 1.25 1.25

Genomic Health IncUnited

States80,432,970 9,833,663 0.83 0.83

Genomma Lab Internacional SAB de

CVMexico 30,696,174 3,752,887 0.34 0.34

Genus PLCUnited

Kingdom406,213,168 49,663,258 2.36 2.36

Gerresheimer AG Germany 417,607,102 51,056,270 2.05 2.05

Getinge AB Sweden 461,425,997 56,413,529 0.89 1.43

Gilead Sciences IncUnited

States6,897,975,882 843,340,349 0.9 0.9

Ginko International Co Ltd Taiwan 11,988,464 1,465,699 0.22 0.22

GlaxoSmithKline Pharmaceuticals Ltd India 13,408,450 1,639,305 0.05 0.05

GlaxoSmithKline PLCUnited

Kingdom15,023,918,728 1,836,810,838 2.07 2.07

Glenmark Pharmaceuticals Ltd India 32,776,787 4,007,261 0.15 0.15

Globus Medical IncUnited

States324,000,204 39,611,974 0.31 1

GN Store Nord A/S Denmark 1,061,179,330 129,738,834 2.78 2.78

GrandVision NV Netherlands 461,724,352 56,450,005 0.87 0.87

Granules India Ltd India 112,621,700 13,769,028 2.52 2.52

Green Cross Corp/South Korea South Korea 101,874,434 12,455,077 0.5 0.5

Green Cross Holdings Corp South Korea 172,419,803 21,079,891 1.22 1.2

Grifols SA Spain 1,376,527,652 168,293,037 0.91 0.91

Guangzhou Baiyunshan Pharmaceutical

Holdings Co LtdChina 95,843,089 11,717,690 0.24 0.24

Guerbet France 281,102,029 34,367,282 1.81 2.88

Haemonetics CorpUnited

States452,906,182 55,371,904 1.81 1.81

Halozyme Therapeutics IncUnited

States164,886,389 20,158,862 0.7 0.7

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017224

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Halyard Health IncUnited

States189,308,037 23,144,631 1.07 1.07

Hanall Biopharma Co Ltd South Korea 44,025,718 5,382,545 0.45 0.45

Hanmi Pharm Co Ltd South Korea 282,428,221 34,529,421 0.56 0.56

Hanmi Science Co ltd South Korea 56,333,490 6,887,282 0.1 0.1

Hartalega Holdings Bhd Malaysia 331,169,355 40,488,469 0.93 0.93

HCA Healthcare IncUnited

States2,198,082,430 268,735,588 0.86 0.86

Healthcare Services Group IncUnited

States260,216,892 31,813,884 0.82 0.82

Healthscope Ltd Australia 751,620,696 91,892,473 3.22 3.22

HealthSouth CorpUnited

States563,524,252 68,895,970 1.42 1.42

Henry Schein IncUnited

States730,898,946 89,359,050 0.81 0.81

Hikma Pharmaceuticals PLCUnited

Kingdom265,432,442 32,451,532 0.88 0.88

Hill-Rom Holdings IncUnited

States520,146,745 63,592,675 1.15 1.15

Hisamitsu Pharmaceutical Co Inc Japan 344,215,429 42,083,470 0.73 0.73

HLB Inc South Korea 13,008,796 1,590,444 0.12 0.12

HMS Holdings CorpUnited

States310,767,344 37,994,137 2.67 2.67

Hogy Medical Co Ltd Japan 121,349,022 14,836,023 1.2 1.2

Hologic Inc United

States

633,530,552 77,454,878 0.66 0.66

Horizon Pharma PlcUnited

States257,785,752 31,516,655 1.32 1.32

Huadong Medicine Co Ltd China 35,186,023 4,301,812 0.05 0.05

Hualan Biological Engineering Inc China 72,183,597 8,825,102 0.23 0.23

Hua Han Health Industry Holdings Ltd China 11,454,754 1,400,448 1.91 1.91

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017225

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Humana AB Sweden 37,033 4,528 0

Humana IncUnited

States2,675,647,121 327,122,219 0.92 0.92

Humanwell Healthcare Group Co Ltd China 235,677,123 28,813,674 0.78 0.78

Humedix Co Ltd South Korea 45,179,582 5,523,615 1.46 1.46

Huons Co Ltd South Korea 71,692,651 8,765,079 1.54 1.54

Huons Global Co Ltd South Korea 50,952,918 6,229,458 1.15 1.15

H Lundbeck A/S Denmark 919,924,820 112,469,184 1.11 1.11

iKang Healthcare Group Inc China 26,652,389 3,258,497 0.23 0.6

iNtRON Biotechnology Inc South Korea 6,996,094 855,336 0.14 0.14

iRhythm Technologies IncUnited

States154,754,790 18,920,182 1.47 1.47

i-SENS Inc South Korea 113,882,127 13,923,127 4.29 4.29

ICON PLCUnited

States605,069,555 73,975,261 1.22 1.22

ICU Medical IncUnited

States342,673,279 41,894,928 0.96 0.96

Idorsia Ltd Switzerland 431,443,214 52,747,861 1.74 1.74

IDEXX Laboratories IncUnited

States956,796,543 116,977,088 0.86 0.86

IlDong Holdings Co Ltd South Korea 2,366,182 289,287 0.19 0.19

Illumina IncUnited

States2,130,132,278 260,428,063 0.82 0.82

Ilyang Pharmaceutical Co Ltd South Korea 46,900,236 5,733,981 0.84 0.82

Il Dong Pharmaceutical Co Ltd South Korea 10,926,010 1,335,804 0.28 0.28

Imexpharm Pharmaceutical JSC Vietnam 18,162,120 2,220,485 1.78 1.78

Immunodiagnostic Systems Holdings

PLC

United

Kingdom

25,078,924 3,066,127 2.85 2.85

ImmunoGen IncUnited

States17,510,397 2,140,805 0.25 0.25

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017226

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Impax Laboratories IncUnited

States122,229,409 14,943,658 1.21 1.21

InBody Co Ltd South Korea 161,580,902 19,754,736 3.85 3.85

Incyte CorpUnited

States1,706,749,305 208,665,640 1.04 1.04

Indivior PLCUnited

Kingdom920,213,906 112,504,527 2.82 2.82

Infant Bacterial Therapeutics AB Sweden 17,922,142 2,191,145 1.81 2.36

InflaRx NV Germany 15,422,164 1,885,500 0.38 0.38

Innate Pharma SA France 11,623,222 1,421,045 0.43 0.43

Innoviva IncUnited

States65,245,927 7,976,909 0.52 0.52

Inogen IncUnited

States261,058,467 31,916,774 1.28 1.28

Insmed IncUnited

States185,919,700 22,730,376 0.95 0.95

Instituto Hermes Pardini SA Brazil 64,689,790 7,908,916 0.6 0.6

Insulet CorpUnited

States384,328,190 46,987,620 1.17 1.17

Insys Therapeutics IncUnited

States77,561,091 9,482,549 1.34 1.34

Intec Pharma Ltd Israel 8,685,602 1,061,894 0.79 0.79

Integrated Diagnostics Holdings PLC Egypt 74,618,062 9,122,737 1.31 1.31

Integra LifeSciences Holdings CorpUnited

States206,132,644 25,201,592 0.67 0.67

Intercept Pharmaceuticals IncUnited

States7,676,461 938,517 0.06 0.06

Intra-Cellular Therapies IncUnited

States33,052,210 4,040,934 0.51 0.51

Intrexon Corp United

States18,770,690 2,294,888 0.17 0.17

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017227

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Intuitive Surgical IncUnited

States2,676,666,172 327,246,807 0.8 0.8

Inventiva SA France 13,727,362 1,678,295 1.07 1.72

INC Research Holdings IncUnited

States183,052,515 22,379,836 0.49 0.49

Ionis Pharmaceuticals IncUnited

States328,466,839 40,158,061 0.64 0.64

Ion Beam Applications Belgium 255,243,792 31,205,877 3.63 3.63

Ipca Laboratories Ltd India 119,633,502 14,626,285 1.24 1.24

Ipsen SA France 1,076,603,020 131,624,520 0.84 1.32

IQVIA Holdings IncUnited

States974,370,786 119,125,699 0.59 0.59

Ironwood Pharmaceuticals IncUnited

States288,178,548 35,232,451 0.84 1.57

IVF Hartmann Holding AG Switzerland 601,604 73,552 0.02 0.02

Japan Lifeline Co Ltd Japan 157,038,288 19,199,360 1.02 1.02

Japara Healthcare Ltd Australia 37,749,436 4,615,212 1.13 1.13

Jazz Pharmaceuticals PLCUnited

States500,251,656 61,160,319 0.76 0.76

JCR Pharmaceuticals Co Ltd Japan 57,215,804 6,995,153 0.46 0.46

Jeil Pharmaceutical Co Ltd South Korea 6,723,636 822,026 0.13 0.13

Jiangsu Hengrui Medicine Co Ltd China 1,411,402,170 172,556,764 0.58 0.58

Jiangsu Yuyue Medical Equipment &

Supply Co LtdChina 166,169,795 20,315,770 0.67 0.67

Jinyu Bio-Technology Co Ltd China 552,668,196 67,568,718 1.54 1.54

JINS Inc Japan 191,796,713 23,448,894 1.85 1.85

Johnson & JohnsonUnited

States27,365,328,289 3,345,660,510 0.89 0.89

Jointown Pharmaceutical Group Co Ltd China 235,640,793 28,809,232 0.53 0.53

Juno Therapeutics IncUnited

States239,413,582 29,270,490 0.56 0.56

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017228

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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JW Pharmaceutical Corp South Korea 34,868,891 4,263,039 0.52 0.51

Kaken Pharmaceutical Co Ltd Japan 422,159,005 51,612,782 2.06 2.06

Kala Pharmaceuticals IncUnited

States13,893,463 1,698,602 0.37 0.37

Kalbe Farma Tbk PT Indonesia 61,130,308 7,473,737 0.13 0.13

Kamada Ltd Israel 23,106,760 2,825,012 1.49 1.49

Keryx Biopharmaceuticals IncUnited

States78,041,880 9,541,330 1.72 1.72

Kindred Healthcare IncUnited

States151,285,883 18,496,076 2.19 2.19

Kissei Pharmaceutical Co Ltd Japan 134,806,031 16,481,265 1.07 1.07

Kobayashi Pharmaceutical Co Ltd Japan 458,807,197 56,093,357 1.05 1.05

Kolon Life Science Inc South Korea 18,910,852 2,312,024 0.21 0.21

Komipharm International Co Ltd South Korea 19,381,531 2,369,569 0.12 0.12

Koninklijke Philips NV Netherlands 5,448,079,162 666,077,275 1.84 1.84

Korea United Pharm Inc South Korea 7,055,750 862,630 0.19 0.19

Korian SA France 342,440,701 41,866,493 1.46 1.46

Kossan Rubber Industries Malaysia 143,853,236 17,587,368 1.37 1.37

KPJ Healthcare Bhd Malaysia 62,149,357 7,598,325 0.74 0.74

Krka dd Novo mesto Slovenia 181,493,027 22,189,175 0.99 0.99

Kwang Dong Pharmaceutical Co Ltd South Korea 54,893,040 6,711,174 1.57 1.57

Kyowa Hakko Kirin Co Ltd Japan 648,756,364 79,316,372 0.71 0.71

Kyungdong Pharm Co Ltd South Korea 29,181,725 3,567,732 1.29 1.29

KYORIN Holdings Inc Japan 157,193,659 19,218,356 1.37 1.37

Laboratorios Farmaceuticos Rovi SA Spain 16,114,404 1,970,133 0.21 0.21

Laboratory Corp of America HoldingsUnited

States1,080,765,801 132,133,458 0.81 0.81

Lannett Co IncUnited

States83,574,315 10,217,721 1.17 1.17

Lantheus Holdings IncUnited

States57,761,052 7,061,814 0.92 0.92

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017229

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Lee's Pharmaceutical Holdings Ltd Hong Kong 15,341,500 1,875,638 0.36 0.36

Lepu Medical Technology Beijing Co

LtdChina 540,743,111 66,110,768 1 1

Lexicon Pharmaceuticals IncUnited

States21,533,402 2,632,654 0.25 0.25

LHC Group IncUnited

States240,900,230 29,452,246 2.63 2.63

LifeHealthcare Group Ltd Australia 5,040,222 616,213 0.66 0.66

LifePoint Health IncUnited

States119,402,750 14,598,073 0.74 0.74

Lifetech Scientific Corp China 9,790,862 1,197,022 0.12 0.12

Life Healthcare Group Holdings Ltd South Africa 172,600,653 21,102,001 0.65 0.65

Ligand Pharmaceuticals IncUnited

States197,250,757 24,115,701 0.83 0.83

Linical Co Ltd Japan 7,724,341 944,371 0.27 0.27

LivaNova PLCUnited

States307,815,189 37,633,209 0.98 0.98

Livzon Pharmaceutical Group Inc China 359,574,303 43,961,232 1.01 1.01

LKL International Bhd Malaysia 3,461,340 423,180 1.95 1.95

Lonza Group AG Switzerland 3,758,287,354 459,484,843 2.28 2.28

Lotus Pharmaceutical Co Ltd Taiwan 41,590,627 5,084,833 1.27 1.27

Loxo Oncology IncUnited

States180,083,588 22,016,858 0.87 0.87

Luminex CorpUnited

States160,698,297 19,646,830 2.26 2.26

Lupin Ltd India 631,072,494 77,154,358 1.23 1.23

Lutronic Corp South Korea 17,905,391 2,189,097 0.87 0.78

Luye Pharma Group Ltd China 41,607,354 5,086,878 0.19 0.19

Lysogene SA France 5,488,602 671,032 1.19 1.19

Macrogen Inc South Korea 8,387,991 1,025,508 0.32 0.32

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017230

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Magellan Health IncUnited

States391,756,906 47,895,848 2.06 2.06

Mallinckrodt PLCUnited

States326,246,453 39,886,599 1.86 1.86

Mani Inc Japan 97,526,893 11,923,550 1.1 1.1

Marksans Pharma Ltd India 8,513,799 1,040,889 0.41 0.41

Masimo CorpUnited

States415,967,649 50,855,832 1.16 1.16

Mayne Pharma Group Ltd Australia 37,800,206 4,621,419 0.55 0.55

Mazor Robotics Ltd Israel 18,513,086 2,263,393 0.16 0.16

Medica Sur SAB de CV Mexico 32,345,751 3,954,562 1.53 1.53

Medicines Co/TheUnited

States115,272,734 14,093,141 0.71 0.71

Mediclinic International PLCUnited

Kingdom811,248,639 99,182,532 1.55 1.55

Medicover AB Sweden 2,909,843 355,755 0.01 0.03

Medigen Biotechnology Corp Taiwan 7,885,062 964,021 0.58 0.58

Medikit Co Ltd Japan 2,858,960 349,534 0.08 0.08

Medipal Holdings Corp Japan 196,783,320 24,058,552 0.5 0.5

Medipost Co Ltd South Korea 5,929,362 724,919 0.08 0.08

Medpace Holdings IncUnited

States10,974,766 1,341,765 0.1 0.1

Medtronic PLCUnited

States7,511,327,466 918,328,164 0.84 0.84

Medy-Tox Inc South Korea 236,688,303 28,937,300 1.13 1.13

Menicon Co Ltd Japan 115,500,115 14,120,941 1.38 1.38

Merck KGaA Germany 2,397,688,019 293,139,188 2.06 0.61

Merck & Co IncUnited

States12,296,881,959 1,503,405,767 0.98 0.98

Meridian Bioscience IncUnited

States130,086,902 15,904,308 2.69 2.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017231

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Merit Medical Systems IncUnited

States250,587,278 30,636,576 1.41 1.41

Mersana Therapeutics IncUnited

States2,687,734 328,600 0.09 0.09

Mesoblast Ltd Australia 3,843,149 469,860 0.09 0.09

Metlifecare LtdNew

Zealand106,707,131 13,045,918 1.41 1.41

MEDNAX IncUnited

States404,582,581 49,463,904 0.99 0.99

Microlife Corp Taiwan 28,832,823 3,525,075 1.3 1.3

Microport Scientific Corp Hong Kong 83,282,384 10,182,030 0.72 0.72

Middle East Healthcare CoSaudi

Arabia191,834,031 23,453,457 1.78

MiMedx Group IncUnited

States124,717,074 15,247,798 1.09 1.09

Minapharm Pharmaceuticals Egypt 5,925,068 724,393 1.3 1.3

Mingyuan Medicare Development Co

LtdChina 27,675 3,384 0.01 0.01

Miraca Holdings Inc Japan 329,179,311 40,245,168 1.64 1.64

Mitra Keluarga Karyasehat Tbk PT Indonesia 144,076,947 17,614,718 0.91 0.91

Mitsubishi Tanabe Pharma Corp Japan 711,817,248 87,026,139 0.75 0.75

Mochida Pharmaceutical Co Ltd Japan 255,720,164 31,264,118 1.99 1.99

Molina Healthcare IncUnited

States244,177,979 29,852,981 0.68 0.68

Momenta Pharmaceuticals IncUnited

States241,768,759 29,558,432 2.77 2.77

Monash IVF Group Ltd Australia 7,485,498 915,170 0.39 0.39

MorphoSys AG Germany 376,154,299 45,988,288 1.7 1.7

Mouwasat Medical Services CoSaudi

Arabia247,886,162 30,306,340 1.51

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017232

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Mylan NVUnited

States1,913,664,252 233,962,876 1.03 1.03

Myovant Sciences LtdUnited

States62,032,190 7,584,000 0.98 0.98

Myriad Genetics IncUnited

States368,129,354 45,007,165 1.89 1.89

nib holdings Ltd/Australia Australia 309,971,644 37,896,855 1.58 1.58

Nakanishi Inc Japan 121,762,745 14,886,604 0.91 0.91

Nanobiotix France 30,176,292 3,689,326 1.01 1.06

Natco Pharma Ltd India 17,360,897 2,122,528 0.08 0.08

National HealthCare CorpUnited

States10,035,784 1,226,966 0.13 0.13

National Veterinary Care Ltd Australia 821,869 100,481 0.08 0.08

Naturalendo Tech Co Ltd South Korea 1,147,693 140,316 0.03 0.03

Natus Medical IncUnited

States91,137,944 11,142,443 0.94 0.94

Nektar TherapeuticsUnited

States1,184,438,579 144,808,399 1.54 1.54

Neogen CorpUnited

States416,291,199 50,895,389 1.62 1.62

Netcare Ltd South Africa 318,127,220 38,893,949 1.3 1.3

Neurocrine Biosciences IncUnited

States556,111,014 67,989,634 0.99 0.99

Nevro CorpUnited

States9,900,926 1,210,478 0.06 0.06

Newron Pharmaceuticals SpA Italy 1,202,144 146,973 0.07 0.07

Nichi-iko Pharmaceutical Co Ltd Japan 47,690,750 5,830,628 0.62 0.62

Nihon Kohden Corp Japan 273,794,385 33,473,856 1.61 1.61

Nikkiso Co Ltd Japan 96,191,927 11,760,339 1.45 1.45

Nippon Chemiphar Co Ltd Japan 27,803,363 3,399,214 1.89 1.89

Nippon Shinyaku Co Ltd Japan 321,744,979 39,336,253 0.75 0.75

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017233

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nipro Corp Japan 306,029,978 37,414,951 1.47 1.47

NMC Health PLCUnited

Kingdom913,167,657 111,643,059 1.4 1.4

Novartis AG Switzerland 36,770,084,404 4,495,477,563 2.03 2.03

Novelion Therapeutics Inc Canada 1,013,127 123,864 0.21 0.21

Novocure LtdUnited

States92,416,091 11,298,708 0.63 0.63

Novozymes A/S Denmark 4,060,117,539 496,386,331 1.14 2.94

Novo Nordisk A/S Denmark 18,498,395,506 2,261,597,255 0.57 1.68

NuVasive IncUnited

States377,479,986 46,150,365 1.55 1.55

NxStage Medical IncUnited

States167,481,342 20,476,119 1.28 1.28

OBI Pharma Inc Taiwan 15,719,106 1,921,804 0.22 0.22

Oceania Healthcare LtdNew

Zealand13,132,225 1,605,534 0.35 0.35

Odonate Therapeutics IncUnited

States10,224,188 1,250,000 0.19 0.19

Odontoprev SA Brazil 67,876,068 8,298,467 0.33 0.33

Olainfarm AS Latvia 14,784,164 1,807,499 1.33 1.33

Olympus Corp Japan 386,937,762 47,306,664 0.36 0.36

Omnicell IncUnited

States123,731,444 15,127,296 0.82 0.82

OncoMed Pharmaceuticals IncUnited

States6,115,403 747,664 0.48 0.48

Ono Pharmaceutical Co Ltd Japan 960,650,621 117,448,284 0.93 0.93

OPKO Health IncUnited

States155,124,773 18,965,416 0.69 0.69

OraSure Technologies IncUnited

States166,956,960 20,412,008 1.78 1.78

Orientbio Inc South Korea 1,377,556 168,419 0.1 0.1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017234

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Oriola Oyj Finland 132,137,716 16,155,039 0.39 2.65

Orion Oyj Finland 887,863,636 108,549,412 0.34 2.06

Orpea France 546,822,401 66,854,017 0.67 0.88

Orthofix International NVUnited

States206,931,805 25,299,297 2.54 2.54

Osstem Implant Co Ltd South Korea 151,723,132 18,549,534 2.35 2.35

Otsuka Holdings Co Ltd Japan 1,855,455,755 226,846,358 0.93 0.93

Owens & Minor IncUnited

States86,705,175 10,600,497 0.92 0.92

Pacific Edge LtdNew

Zealand3,234,160 395,406 0.31 0.31

Pacira Pharmaceuticals Inc/DEUnited

States134,444,828 16,437,104 0.89 0.89

Paramount Bed Holdings Co Ltd Japan 198,846,288 24,310,769 1.59 1.59

Paratek Pharmaceuticals IncUnited

States77,154,895 9,432,888 1.89 1.89

Patterson Cos IncUnited

States90,111,115 11,016,904 0.32 0.32

PDL BioPharma IncUnited

States30,778,946 3,763,006 0.89 0.89

Penumbra IncUnited

States165,896,915 20,282,408 0.64 0.64

PeptiDream Inc Japan 181,642,266 22,207,421 0.54 0.54

Peptron Inc South Korea 9,455,917 1,156,072 0.26 0.26

Perrigo Co PLCUnited

States669,517,873 81,854,655 0.67 0.67

Pfenex IncUnited

States2,304,291 281,721 0.45 0.45

Pfizer IncUnited

States15,999,251,477 1,956,054,146 0.91 0.91

PharmaEngine Inc Taiwan 31,595,447 3,862,831 0.51 0.51

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017235

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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PharmaEssentia Corp Taiwan 15,682,550 1,917,335 0.18 0.18

Pharmally International Holding Co Ltd Taiwan 18,519,289 2,264,152 0.21 0.21

Pharma Mar SA Spain 95,644,116 11,693,364 1.76 1.76

Pharmena SA Poland 6,396,803 782,067 1.38 1.38

Pharnext SA France 15,250,056 1,864,458 1.8 1.8

Pihsiang Machinery Manufacturing Co

LtdTaiwan 3,843,734 469,931 0.52 0.52

Piramal Enterprises Ltd India 128,118,258 15,663,623 0.2 0.2

Polski Bank Komorek Macierzystych SA Poland 19,435,678 2,376,189 2.49 2.49

Portola Pharmaceuticals IncUnited

States276,544,324 33,810,061 1.06 1.06

Prestige Brands Holdings IncUnited

States214,248,037 26,193,773 1.11 1.11

Primary Health Care Ltd Australia 586,647,752 71,723,028 4.86 4.86

Prim SA Spain 3,644,239 445,541 0.21 0.21

ProMetic Life Sciences Inc Canada 35,096,990 4,290,927 0.58 0.58

Prothena Corp PLCUnited

States106,716,960 13,047,120 0.91 0.91

PRA Health Sciences IncUnited

States446,843,676 54,630,707 0.95 0.95

Pulsion Medical Systems SE Germany 2,109,829 257,946 0.1 0.1

Puma Biotechnology IncUnited

States556,015,517 67,977,959 1.83 1.83

QIAGEN NV Germany 243,273,598 29,742,412 0.42 0.42

Quanterix CorpUnited

States7,024,426 858,800 0.18 0.18

Quantum Genomics SAS France 5,978,783 730,961 1.76 1.76

Quest Diagnostics IncUnited

States1,335,020,550 163,218,416 1.22 1.22

Quidel CorpUnited

States203,362,135 24,862,872 1.69 1.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017236

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Radius Health IncUnited

States63,938,048 7,817,008 0.55 0.55

Raffles Medical Group Ltd Singapore 116,895,366 14,291,523 0.96 0.96

Ramsay Health Care Ltd Australia 243,574,704 29,779,225 0.27 0.27

Recordati SpA Italy 1,147,558,716 140,299,500 1.51 1.51

Regeneron Pharmaceuticals IncUnited

States2,296,266,490 280,739,483 0.6 0.7

Regis Healthcare Ltd Australia 56,327,717 6,886,576 0.83 0.83

ReNeuron Group PLCUnited

Kingdom2,582,211 315,699 0.39 0.39

Repligen CorpUnited

States151,191,614 18,484,551 1.17 1.17

ReproCELL Inc Japan 22,833,216 2,791,568 1.55 1.55

ResMed IncUnited

States820,475,030 100,310,542 0.83 0.83

Rhythm Pharmaceuticals IncUnited

States11,884,596 1,453,000 0.18 0.18

RHOEN-KLINIKUM AG Germany 127,113,401 15,540,770 0.65 0.65

Richter Gedeon Nyrt Hungary 74,238,299 9,076,308 0.19 0.19

Roche Holding AG Switzerland 35,151,148,089 4,297,547,860 0.44 1.97

Rohto Pharmaceutical Co Ltd Japan 258,284,334 31,577,611 1 1

Ryman Healthcare LtdNew

Zealand317,028,440 38,759,613 1.03 1.03

scPharmaceuticals IncUnited

States889,995 108,810 0.05 0.05

Sage Therapeutics IncUnited

States336,564,032 41,148,017 0.6 0.6

Samjin Pharmaceutical Co Ltd South Korea 17,469,988 2,135,865 0.46 0.46

Samsung Biologics Co Ltd South Korea 712,481,440 87,107,342 0.38 0.38

Samsung Pharmaceutical Co Ltd South Korea 3,170,128 387,577 0.25 0.25

SanBio Co Ltd Japan 6,017,976 735,752 0.06 0.06

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017237

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sanofi France 16,504,026,241 2,017,767,456 1.66 1.85

Santen Pharmaceutical Co Ltd Japan 363,973,114 44,499,027 0.7 0.7

Sarepta Therapeutics IncUnited

States222,103,802 27,154,212 0.76 0.76

Sartorius Stedim Biotech France 312,647,901 38,224,052 0.33 0.57

Saudi Pharmaceutical Industries &

Medical Appliances Corp

Saudi

Arabia42,549,897 5,202,112 0.55

Sawai Pharmaceutical Co Ltd Japan 132,414,973 16,188,936 0.82 0.82

ScinoPharm Taiwan Ltd Taiwan 38,271,917 4,679,090 0.5 0.5

Seattle Genetics IncUnited

States442,298,936 54,075,071 0.7 0.7

Sectra AB Sweden 142,301,385 17,397,640 1.35 2.18

Seegene Inc South Korea 123,626,919 15,114,516 1.84 1.84

Seikagaku Corp Japan 71,384,050 8,727,350 1.03 1.03

Select Medical Holdings CorpUnited

States116,420,259 14,233,437 0.61 0.61

Shandong Weigao Group Medical

Polymer Co LtdChina 192,036,945 23,478,265 0.72 0.72

Shanghai Fosun Pharmaceutical Group

Co LtdChina 479,036,266 58,566,545 0.35 0.35

Shanghai Fudan-Zhangjiang Bio-

Pharmaceutical Co Ltd China 4,684,975 572,781 0.1 0.1

Shanghai Haohai Biological Technology

Co LtdChina 43,191,839 5,280,596 0.69 0.69

Shanghai Pharmaceuticals Holding Co

LtdChina 542,754,359 66,356,662 0.74 0.74

Shin Nippon Biomedical Laboratories

LtdJapan 2,169,281 265,214 0.12 0.12

Shionogi & Co Ltd Japan 2,093,036,232 255,892,734 1.44 1.44

Ship Healthcare Holdings Inc Japan 322,513,352 39,430,193 2.34 2.34

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017238

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Shire PLCUnited

Kingdom9,016,198,265 1,102,312,319 2.3 2.3

Sichuan Kelun Pharmaceutical Co Ltd China 183,151,519 22,391,941 0.41 0.41

Sichuan Maker Biotechnology Co Ltd China 143,366,713 17,527,886 0.85 0.85

Siegfried Holding AG Switzerland 290,720,672 35,543,249 2.51 2.51

Sienna Biopharmaceuticals IncUnited

States5,938,208 726,000 0.19 0.19

Sihuan Pharmaceutical Holdings Group

LtdChina 132,500,447 16,199,386 0.48 0.48

SillaJen Inc South Korea 239,569,981 29,289,611 0.49 0.49

Siloam International Hospitals Tbk PT Indonesia 94,855,180 11,596,909 1.01 1.01

Sinopharm Group Co Ltd China 425,852,351 52,064,327 0.44 0.44

Sino Biopharmaceutical Ltd China 684,469,558 83,682,635 0.64 0.64

Sirtex Medical Ltd Australia 113,228,758 13,843,247 1.92 1.92

Smith & Nephew PLCUnited

Kingdom2,042,802,804 249,751,240 1.64 1.64

Sonic Healthcare Ltd Australia 701,601,748 85,777,201 1.14 1.14

Sonova Holding AG Switzerland 1,328,823,189 162,460,732 1.59 1.59

Spark Therapeutics IncUnited

States73,349,952 8,967,699 0.47 0.47

Spectrum Pharmaceuticals IncUnited

States81,910,604 10,014,317 0.52 0.52

Spire Healthcare Group PLCUnited

Kingdom 506,137,006 61,879,857 4.5 4.5

Square Pharmaceuticals Ltd Bangladesh 290,754,459 35,547,380 1.33 1.33

SSY Group Ltd China 138,448,409 16,926,578 0.96 0.96

Stallergenes Greer PLC France 28,801,923 3,521,297 0.38 0.38

Starpharma Holdings Ltd Australia 14,813,488 1,811,084 0.46 0.46

Straumann Holding AG Switzerland 1,088,745,573 133,109,058 1.19 1.19

Strides Shasun Ltd India 204,742,043 25,031,579 2.17 2.17

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017239

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Stryker CorpUnited

States3,114,092,568 380,726,166 0.66 0.66

St Shine Optical Co Ltd Taiwan 250,176,336 30,586,335 1.85 1.85

STADA Arzneimittel AG Germany 1,160,077,671 141,830,056 2.15 2.15

STERIS PLCUnited

States602,896,367 73,709,569 0.99 0.99

ST Pharm Co Ltd South Korea 38,728,410 4,734,901 0.82 0.82

Sumitomo Dainippon Pharma Co Ltd Japan 270,047,513 33,015,767 0.56 0.56

Sun Pharmaceutical Industries Ltd India 637,963,663 77,996,866 0.36 0.36

Sun Pharma Advanced Research Co

LtdIndia 84,840,659 10,372,543 0.53 0.53

Supernus Pharmaceuticals IncUnited

States191,197,634 23,375,651 1.14 1.14

Surgery Partners IncUnited

States33,475,658 4,092,704 0.69 0.69

Suzuken Co Ltd/Aichi Japan Japan 293,726,482 35,910,736 0.84 0.84

Swedish Orphan Biovitrum AB Sweden 329,511,146 40,285,737 1.09 1.08

Synektik SA Poland 14,685,770 1,795,469 4.33 4.33

Sysmex Corp Japan 1,060,407,863 129,644,515 0.79 0.79

Taigen Biopharmaceuticals Holdings

LtdTaiwan 7,583,986 927,211 0.18 0.18

TaiMed Biologics Inc Taiwan 45,560,396 5,570,173 0.36 0.36

Taisho Pharmaceutical Holdings Co Ltd Japan 170,964,529 20,901,970 0.29 0.29

Takara Bio Inc Japan 42,617,179 5,210,338 0.31 0.31

Takeda Pharmaceutical Co Ltd Japan 4,014,917,865 490,860,260 1.09 1.09

Taro Pharmaceutical Industries LtdUnited

States210,731,062 25,763,791 0.61 0.61

Tasly Pharmaceutical Group Co Ltd China 347,873,789 42,530,738 0.72 0.72

Tecan Group AG Switzerland 732,589,498 89,565,735 3.63 3.63

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017240

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Teladoc IncUnited

States13,149,087 1,607,596 0.08 0.08

Teleflex IncUnited

States881,931,514 107,824,156 0.96 0.96

Tenet Healthcare CorpUnited

States64,937,380 7,939,186 0.52 0.52

Terumo Corp Japan 1,090,636,547 133,340,247 0.74 0.74

Terveystalo Oyj Finland 174,729,172 21,362,232 1.56 1.56

Teva Pharmaceutical Industries Ltd Israel 2,002,835,918 244,864,924 1.27 1.27

TESARO IncUnited

States196,353,723 24,006,030 0.53 0.53

TheraNexus SADIR France 13,403,908 1,638,750 1.91 2.95

TherapeuticsMD IncUnited

States50,486,194 6,172,397 0.47 0.47

Theravance Biopharma IncUnited

States176,748,297 21,609,088 1.43 1.43

Thermo Fisher Scientific IncUnited

States6,296,498,642 769,804,281 1.01 1.01

Thonburi Healthcare Group PCL Thailand 11,144,145 1,362,473 0.17

ThromboGenics NV Belgium 10,674,016 1,304,996 0.89 0.89

TiGenix NV Belgium 38,383,575 4,692,741 1.47 1.47

Tivity Health IncUnited

States273,302,790 33,413,754 2.31 2.31

Tobii AB Sweden 35 4 0

Toho Holdings Co Ltd Japan 98,201,455 12,006,022 0.68 0.68

Tokai Corp/Gifu Japan 113,927,386 13,928,660 1.69 1.69

Tonghua Dongbao Pharmaceutical Co

LtdChina 729,144,989 89,144,613 1.48 1.48

Tong Ren Tang Technologies Co Ltd China 119,534,043 14,614,125 0.79 0.79

Topcon Corp Japan 347,382,278 42,470,646 1.82 1.82

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017241

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Top Glove Corp Bhd Malaysia 825,598,865 100,936,977 4.07 4.07

Torii Pharmaceutical Co Ltd Japan 58,819,799 7,191,256 0.93 0.93

Torrent Pharmaceuticals Ltd India 56,601,895 6,920,097 0.18 0.18

Towa Pharmaceutical Co Ltd Japan 59,247,245 7,243,515 0.77 0.77

Town Health International Medical Group

LtdHong Kong 15,038,356 1,838,576 0.28 0.28

Tsukui Corp Japan 40,396,587 4,938,850 0.76 0.76

Tsumura & Co Japan 329,157,837 40,242,542 1.58 1.58

TTY Biopharm Co Ltd Taiwan 51,751,314 6,327,069 0.74 0.74

TWi Pharmaceuticals Inc Taiwan 2,082,871 254,650 0.07 0.07

UCB SA Belgium 1,502,218,454 183,659,882 1.19 1.19

UDG Healthcare PLCUnited

Kingdom563,577,449 68,902,474 2.43 2.43

Ultragenyx Pharmaceutical IncUnited

States200,502,217 24,513,221 1.24 1.24

Unichem Laboratories Ltd India 107,558,828 13,150,046 2.79 2.79

UnitedHealth Group IncUnited

States15,126,330,226 1,849,331,576 0.87 0.87

United Laboratories International

Holdings Ltd/TheHong Kong 142,363,716 17,405,260 1.32 1.32

United Therapeutics CorpUnited

States549,111,992 67,133,940 1.05 1.05

Unite de Fabrication de Medicaments

SATunisia 14,117,329 1,725,972 1.72 1.72

Universal Health Services IncUnited

States842,387,848 102,989,583 0.11 0.96

UroGen Pharma Ltd Israel 406,008 49,638 0.01 0.01

Valeant Pharmaceuticals International

IncCanada 227,123,148 27,767,872 0.38 0.38

Value Added Technology Co Ltd South Korea 101,744,630 12,439,207 2.63 2.63

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017242

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Varex Imaging CorpUnited

States89,129,032 10,896,836 0.72 0.72

Varian Medical Systems IncUnited

States666,327,588 81,464,614 0.8 0.8

Vectura Group PLCUnited

Kingdom185,644,215 22,696,695 2.1 2.1

Vernalis PLCUnited

Kingdom416,846 50,963 0.08 0.08

Vertex Pharmaceuticals IncUnited

States2,673,466,350 326,855,600 0.86 0.86

Vetoquinol SA France 27,664,991 3,382,297 0.39 0.39

Vibhavadi Medical Center PCL Thailand 7,851,566 959,925 0.09 0.09

Vieworks Co Ltd South Korea 141,218,691 17,265,271 4.52 4.52

Virbac SA France 190,459,704 23,285,433 1.23 1.86

ViroMed Co Ltd South Korea 177,429,318 21,692,349 0.89 0.89

Virtus Health Ltd Australia 74,355,847 9,090,679 2.75 2.75

Vital KSK Holdings Inc Japan 66,187,429 8,092,016 1.44 1.44

Vitrolife AB Sweden 270,165,759 33,030,224 2 2

Waters CorpUnited

States1,022,956,924 125,065,797 0.81 0.81

WellCare Health Plans IncUnited

States803,764,888 98,267,575 1.1 1.1

West Pharmaceutical Services IncUnited

States485,011,074 59,297,019 0.81 0.81

Whanin Pharmaceutical Co Ltd South Korea 13,300,592 1,626,118 0.42 0.42

William Demant Holding A/S Denmark 638,632,046 78,078,582 1.08 1.08

WIN-Partners Co Ltd Japan 16,261,767 1,988,149 0.52 0.52

Wockhardt Ltd India 17,333,020 2,119,119 0.13 0.13

Wright Medical Group NVUnited

States63,086,703 7,712,924 0.33 0.33

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017243

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Wuxi Biologics Cayman Inc China 197,413,021 24,135,539 0.37 0.37

Xencor IncUnited

States123,223,360 15,065,178 1.46 1.46

Ypsomed Holding AG Switzerland 226,941,368 27,745,648 1.33 1.33

Yuhan Corp South Korea 105,602,708 12,910,892 0.52 0.51

Yungjin Pharmaceutical Co Ltd South Korea 45,455,366 5,557,332 0.37 0.37

YungShin Global Holding Corp Taiwan 42,544,675 5,201,474 1.46 1.46

Zealand Pharma A/S Denmark 20,923,835 2,558,129 0.61 0.61

ZERIA Pharmaceutical Co Ltd Japan 122,808,744 15,014,487 1.48 1.48

Zhejiang Huahai Pharmaceutical Co Ltd China 589,575,416 72,080,962 1.49 1.49

Zhejiang Medicine Co Ltd China 117,898,363 14,414,148 0.72 0.72

Zimmer Biomet Holdings IncUnited

States1,559,966,791 190,720,142 0.78 0.78

ZIOPHARM Oncology IncUnited

States27,728,823 3,390,101 0.58 0.58

Zoetis IncUnited

States2,452,386,618 299,826,590 0.85 0.85

Zymeworks Inc Canada 1,556,121 190,250 0.1 0.1

INDUSTRIALS

13 Holdings Ltd/The Hong Kong 3,095,169 378,413 1.02 1.02

3M CoUnited

States8,994,590,145 1,099,670,529 0.78 0.78

3S Korea Co Ltd South Korea 3,425,357 418,781 0.58 0.58

51job Inc China 76,772,797 9,386,173 0.25

Aalberts Industries NV Netherlands 914,284,726 111,779,631 1.99 1.99

AAC Technologies Holdings Inc Hong Kong 1,999,201,714 244,420,610 1.12 1.12

AAON IncUnited

States41,150,770 5,031,056 0.26 0.26

AAR CorpUnited

States36,109,079 4,414,664 0.32 0.32

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017244

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Abertis Infraestructuras SA Spain 2,080,905,629 254,409,657 1.15 1.15

ABB India Ltd India 18,442,394 2,254,751 0.05 0.05

ABB Ltd Switzerland 7,585,770,742 927,429,532 1.6 1.6

ABM Industries IncUnited

States57,339,078 7,010,224 0.28 0.28

AcBel Polytech Inc Taiwan 78,299,718 9,572,853 2.47 2.47

Accenture PLCUnited

States6,633,819,242 811,044,795 0.83 0.8

Access Engineering PLC Sri Lanka 36,462,181 4,457,834 2.91 2.91

Acciona SA Spain 448,249,986 54,802,642 1.17 1.17

Actuant CorpUnited

States216,431,022 26,460,663 1.74 1.74

Acuity Brands IncUnited

States532,764,514 65,135,312 0.88 0.88

ACS Actividades de Construccion y

Servicios SASpain 2,177,171,018 266,178,977 2.16 2.16

Adani Ports & Special Economic Zone

LtdIndia 729,175,796 89,148,379 0.68 0.68

AddTech AB Sweden 45,789,341 5,598,164 0.26 0.37

Adecco Group AG Switzerland 2,355,358,077 287,963,967 2.2 2.2

Adelaide Brighton Ltd Australia 295,162,222 36,086,269 1.09 1.09

Adhi Karya Persero Tbk PT Indonesia 71,802,547 8,778,515 1.77 1.77

Advancecon Holdings Bhd Malaysia 13,776,387 1,684,289 1.98 1.98

Advanced Ceramic X Corp Taiwan 68,432,946 8,366,551 0.9 0.9

Advanced Disposal Services IncUnited

States355,816,096 43,501,757 2.05 2.05

Advanced Drainage Systems IncUnited

States174,060,823 21,280,520 1.6 1.6

Advan Co Ltd Japan 41,194,081 5,036,351 0.97 0.97

Aecon Group Inc Canada 197,282,861 24,119,626 2.57 2.57

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017245

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Aegion CorpUnited

States140,672,445 17,198,487 2.08 2.08

Aegis Logistics Ltd India 367,527,718 44,933,609 2.99 2.99

Aemulus Holdings Bhd Malaysia 14,013,760 1,713,310 2.41 2.41

Aena SME SA Spain 3,212,501,378 392,757,539 1.28 1.28

Aeon Delight Co Ltd Japan 93,699,552 11,455,623 0.56 0.56

AerCap Holdings NVUnited

States602,018,845 73,602,284 0.89 0.89

Aeroports de Paris France 1,102,693,938 134,814,373 0.41 0.72

AECC Aviation Power Co Ltd China 15,884,260 1,941,995 0.02 0.02

Afrimat Ltd South Africa 61,757,755 7,550,448 2.2 2.2

AF AB Sweden 684,901,421 83,735,434 3.53 4.84

Aggreko PLCUnited

Kingdom 660,836,851 80,793,321 2.92 2.92

Agilent Technologies IncUnited

States1,425,980,107 174,339,050 0.81 0.81

Agility Public Warehousing Co KSC Kuwait 28,592,920 3,495,745 0.1 0.1

Ag Growth International Inc Canada 33,806 4,133 0

AGCO CorpUnited

States355,072,685 43,410,868 0.76 0.76

AGFA-Gevaert NV Belgium 240,341,857 29,383,980 3.66 3.66

Ahlsell AB Sweden 1,120,315,313 136,968,746 4.87 4.87

Ahmad Zaki Resources Bhd Malaysia 22,303,161 2,726,765 2.17 2.17

Aica Kogyo Co Ltd Japan 214,134,833 26,179,933 1.04 1.04

Aichi Corp Japan 28,485,310 3,482,588 0.59 0.59

Aida Engineering Ltd Japan 80,981,444 9,900,719 1.1 1.1

Aiphone Co Ltd Japan 57,891,717 7,077,789 2.23 2.23

Aircastle LtdUnited

States26,675,815 3,261,361 0.18 0.18

Airports of Thailand PCL Thailand 198,943,674 24,322,675 0.08 0.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017246

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Airtac International Group Taiwan 191,501,085 23,412,751 0.69 0.69

Air Lease CorpUnited

States188,400,427 23,033,667 0.46 0.46

AIA Engineering Ltd India 26,725,606 3,267,449 0.14 0.14

AIT Corp Japan 4,767,221 582,836 0.24 0.24

AJ Lucas Group Ltd Australia 31,731,570 3,879,473 2.04 2.04

AJ Networks Co Ltd South Korea 1,660,325 202,990 0.07 0.07

Akka Technologies France 70,812,394 8,657,460 0.52 0.77

AKR Corporindo Tbk PT Indonesia 170,181,361 20,806,221 1.11 1.11

Alamo Group IncUnited

States10,584,525 1,294,055 0.1 0.1

Albany International CorpUnited

States61,552,483 7,525,351 0.2 0.38

Alexandria Containers & Goods Egypt 17,184,590 2,100,973 0.15 0.15

Alfa Laval AB Sweden 2,143,956,486 262,118,198 2.64 2.64

Alfa SAB de CV Mexico 501,079,547 61,261,536 1.1 1.1

Allcargo Logistics Ltd India 143,619,877 17,558,837 2.18 2.18

Allegion PLCUnited

States509,805,944 62,328,418 0.82 0.82

Alliance Aviation Services Ltd Australia 8,295,150 1,014,158 0.58 0.58

Alliance Data Systems CorpUnited

States1,012,295,745 123,762,370 0.88 0.88

Alliance Global Group Inc Philippines 111,081,341 13,580,705 0.41 0.41

Allison Transmission Holdings IncUnited

States490,604,222 59,980,833 0.98 0.98

Alps Electric Co Ltd Japan 218,041,353 26,657,540 0.47 0.47

Alps Logistics Co Ltd Japan 3,965,529 484,822 0.17 0.17

Alstom SA France 561,782,668 68,683,045 0.73 0.74

ALAFCO Aviation Lease & Finance Co

KSCPKuwait 94,086,581 11,502,941 0.97 0.97

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017247

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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ALD SA France 626,816,847 76,634,066 1.22 1.22

ALS Ltd Australia 498,585,380 60,956,602 2.23 2.23

Amada Holdings Co Ltd Japan 278,392,860 34,036,062 0.66 0.66

Amadeus Fire AG Germany 22,522,649 2,753,599 0.57 0.57

Amadeus IT Group SA Spain 2,924,818,708 357,585,714 1.13 1.13

Amano Corp Japan 214,918,809 26,275,781 1.31 1.31

Amara Raja Batteries Ltd India 7,709,260 942,527 0.04 0.04

Ambarella IncUnited

States4,630,453 566,115 0.03 0.03

Amcor Ltd/Australia Australia 1,393,651,237 170,386,551 1.22 1.22

American Outdoor Brands CorpUnited

States8,690,641 1,062,510 0.15 0.15

American Railcar Industries IncUnited

States147,092,522 17,983,400 2.26 2.26

American Woodmark CorpUnited

States265,398,306 32,447,359 1.42 1.42

Amphenol CorpUnited

States1,667,649,921 203,885,385 0.76 0.76

Amuse Inc Japan 63,709,620 7,789,081 1.47 1.47

AMETEK IncUnited

States872,065,419 106,617,936 0.64 0.64

AMG Advanced Metallurgical Group NV Netherlands 315,231,421 38,539,911 2.44 2.44

AMN Healthcare Services IncUnited

States16,589,871 2,028,263 0.09 0.09

AMVIG Holdings Ltd Hong Kong 16,457,828 2,012,119 0.81 0.81

Andino Investment Holding SAA Peru 13,256,160 1,620,686 2.44 2.44

Anest Iwata Corp Japan 61,961,526 7,575,361 1.62 1.62

Anhui Expressway Co Ltd China 48,558,760 5,936,751 0.43 0.43

Anhui Yingliu Electromechanical Co Ltd China 113,079,197 13,824,961 1.31 1.31

Anhui Zhongding Sealing Parts Co Ltd China 117,060,347 14,311,693 0.42 0.42

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017248

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Anixter International IncUnited

States322,531,172 39,432,372 1.56 1.56

Ansaldo STS SpA Italy 203,022,216 24,821,314 0.86 0.86

ANDRITZ AG Austria 539,913,854 66,009,384 1.12 1.12

ANY Security Printing Co Hungary 5,450,629 666,389 0.87 0.87

AO Smith CorpUnited

States1,627,810,928 199,014,705 0.8 1.89

Apator SA Poland 50,183,568 6,135,398 1.4 2.39

Apogee Enterprises IncUnited

States160,273,866 19,594,939 1.5 1.5

Applied Industrial Technologies IncUnited

States465,699,688 56,936,026 2.15 2.15

Applus Services SA Spain 742,658,011 90,796,703 4.51 4.51

AptarGroup IncUnited

States383,275,563 46,858,927 0.87 0.87

AP Moller - Maersk A/S Denmark 3,395,874,096 415,176,523 1.19 1.17

Arab Ceramic Co - Ceramic

Remas/TheEgypt 1,740,736 212,821 0.9 0.9

Aramex PJSCUnited Arab

Emirates66,409,322 8,119,144 0.47 0.47

Arbonia AG Switzerland 139,039,822 16,998,884 1.47 1.47

Arcadis NV Netherlands 363,683,252 44,463,588 2.25 2.25

ArcBest CorpUnited

States87,178,473 10,658,362 1.16 1.16

Ardagh Group SA Ireland 103,550,571 12,660,000 3.23 0.25

Arealink Co Ltd Japan 13,527,124 1,653,814 0.62 0.62

Argan IncUnited

States33,476,403 4,092,795 0.58 0.58

Armstrong Flooring IncUnited

States10,447,685 1,277,325 0.29 0.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017249

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Armstrong World Industries IncUnited

States155,801,750 19,048,182 0.6 0.6

Arrow Electronics IncUnited

States511,312,957 62,512,664 0.88 0.88

Arwana Citramulia Tbk PT Indonesia 24,103,662 2,946,892 1.59 1.59

ARB Holdings Ltd South Africa 22,044,234 2,695,108 2.73 2.73

Asahi Diamond Industrial Co Ltd Japan 100,119,293 12,240,495 1.92 1.92

Asahi Glass Co Ltd Japan 1,230,937,409 150,493,304 1.48 1.48

Asahi Printing Co Ltd Japan 31,827,945 3,891,256 1.4 1.4

Ashok Leyland Ltd India 1,070,870,344 130,923,649 2.4 2.4

Ashtead Group PLCUnited

Kingdom2,095,316,172 256,171,477 1.91 1.91

Asian Paints Ltd India 137,552,902 16,817,094 0.1 0.1

Asia Cement Corp Taiwan 208,313,486 25,468,220 0.8 0.8

Asia Cement Co Ltd South Korea 56,268,891 6,879,384 2.03 2.03

Asia Optical Co Inc Taiwan 135,753,276 16,597,074 1.83 1.83

Asia Vital Components Co Ltd Taiwan 39,216,667 4,794,595 1.25 1.25

Assa Abloy AB Sweden 4,254,066,399 520,098,345 1.53 2.25

Assystem France 140,403,559 17,165,613 1.87 2.15

Astaldi SpA Italy 2,278,338 278,548 0.11 0.11

Astec Industries IncUnited

States178,631,103 21,839,279 1.62 1.62

Asunaro Aoki Construction Co Ltd Japan 49,074,182 5,999,765 1.13 1.13

ASIA Holdings Co Ltd South Korea 30,971,174 3,786,508 1.62 1.62

ASKUL Corp Japan 114,553,809 14,005,246 0.89 0.89

ASTM SpA Italy 541,096,482 66,153,971 2.3 2.3

AS Merko Ehitus Estonia 9,541,807 1,166,573 0.62 0.62

Atkore International Group IncUnited

States44,672,505 5,461,620 0.4 0.4

Atlantia SpA Italy 2,382,067,216 291,229,403 1.12 1.12

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017250

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Atlantska Plovidba dd ZA Medjunarodni

Prijevoz Robe I PutnikaCroatia 2,638,392 322,567 0.22 0.22

Atlas Copco AB Sweden 7,666,947,124 937,354,084 1.52 1.86

Atrae Inc Japan 62,319,312 7,619,103 2.33 2.33

ATS Automation Tooling Systems Inc Canada 198,522,884 24,271,230 2.08 2.08

Auckland International Airport LtdNew

Zealand406,499,347 49,698,246 0.9 0.9

Aurizon Holdings Ltd Australia 929,792,140 113,675,554 1.46 1.46

Ausdrill Ltd Australia 48,046,758 5,874,154 0.79 0.79

Austal Ltd Australia 61,116,544 7,472,054 1.5 1.5

Austin Engineering Ltd Australia 10,944,306 1,338,041 1.14 1.14

Automatic Data Processing IncUnited

States3,223,266,236 394,073,641 0.76 0.76

Aveng Ltd South Africa 12,567,296 1,536,466 2.28 2.28

Avnet IncUnited

States419,520,414 51,290,190 1.07 1.07

Avon Rubber PLCUnited

Kingdom27,899,580 3,410,978 0.67 0.67

AVIC Aircraft Co Ltd China 14,848,156 1,815,322 0.03 0.03

AVIC International Holding HK Ltd China 28,801,842 3,521,287 1.06 1.06

AVIC Jonhon OptronicTechnology Co

LtdChina 91,512,117 11,188,189 0.23 0.23

AVX CorpUnited

States205,308,328 25,100,812 0.86 0.86

AV Tech Corp/Taiwan Taiwan 4,669,913 570,939 0.98 0.98

Axon Enterprise IncUnited

States27,520,450 3,364,625 0.24 0.24

Ayala Corp Philippines 111,706,583 13,657,147 0.11 0.17

Azbil Corp Japan 350,030,560 42,794,423 1.33 1.33

Azkoyen SA Spain 8,367,200 1,022,966 0.42 0.42

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017251

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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AZZ IncUnited

States132,018,357 16,140,446 1.22 1.22

bpost SA Belgium 943,494,686 115,350,815 1.89 1.89

Babcock International Group PLCUnited

Kingdom470,567,280 57,531,134 1.19 1.19

Badger Meter IncUnited

States203,112,001 24,832,291 1.78 1.78

Balco Group AB Sweden 5,180,890 633,411 0.39 0.39

Balfour Beatty PLCUnited

Kingdom212,954,698 26,035,651 0.94 0.94

Ball CorpUnited

States681,101,595 83,270,871 0.63 0.63

Bamburi Cement Co Ltd Kenya 70,141,990 8,575,497 1.36 1.36

Bangkok Expressway & Metro PCL Thailand 6,112,969 747,366 0.02 0.02

Baoye Group Co Ltd China 1,032,084 126,182 0.03 0.03

Barco NV Belgium 395,639,456 48,370,525 3.43 3.43

Barloworld Ltd South Africa 142,264,859 17,393,174 0.63 0.63

Barnes Group IncUnited

States420,559,694 51,417,251 1.52 1.52

Basler AG Germany 74,002,926 9,047,531 1.1 1.1

Bauer AG Germany 73,766,649 9,018,644 1.46 1.46

BBA Aviation PLCUnited

Kingdom609,224,233 74,483,209 1.53 1.53

BBMG Corp China 92,228,912 11,275,824 0.23 0.23

BCA Marketplace PLCUnited

Kingdom171,801,716 21,004,324 0.95 0.95

Beijing Capital International Airport Co

LtdChina 291,006,902 35,578,243 0.55 0.55

Beijing Enterprises Holdings Ltd China 185,893,994 22,727,233 0.3 0.3

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017252

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Beijing GeoEnviron Engineering &

Technology IncChina 38,241,676 4,675,393 0.36 0.36

Beijing Oriental Yuhong Waterproof

Technology Co LtdChina 155,640,473 19,028,465 0.35 0.35

Beijing Originwater Technology Co Ltd China 639,647,850 78,202,773 0.94 0.94

Beijing Urban Construction Design &

Development Group Co LtdChina 26,097,957 3,190,713 0.43 0.43

Bekaert SA Belgium 418,669,283 51,186,131 1.94 1.94

Belden IncUnited

States320,024,935 39,125,962 1.2 1.2

Belimo Holding AG Switzerland 590,622,680 72,208,999 2.68 2.68

Bell System24 Holdings Inc Japan 207,367,283 25,352,538 2.74 2.74

Bemis Co IncUnited

States564,285,754 68,989,071 1.59 1.59

Benchmark Electronics IncUnited

States319,626,547 39,077,255 2.7 2.7

Benefit One Inc Japan 297,211,127 36,336,766 1.92 1.92

Benefit Systems SA Poland 211,319,726 25,835,760 2.87 2.87

Berger Paints Bangladesh Ltd Bangladesh 23,520,538 2,875,600 0.5 0.5

Berger Paints India Ltd India 31,997,294 3,911,960 0.09 0.09

Bergman & Beving AB Sweden 975,128 119,218 0.03 0.04

Berli Jucker PCL Thailand 134,332,307 16,423,347 0.2 0.2

Berry Global Group IncUnited

States676,201,421 82,671,780 1.08 1.08

Bertrandt AG Germany 42,559,039 5,203,230 0.42 0.42

Besterra Co Ltd Japan 19,142,125 2,340,299 1.45 1.45

Better World Green PCL Thailand 63,570,702 7,772,097 4.35 4.35

BES Engineering Corp Taiwan 41,961,512 5,130,177 1.22 1.22

Bharat Electronics Ltd India 90,284,717 11,038,129 0.16 0.16

Bharat Forge Ltd India 630,414,357 77,073,894 1.44 1.44

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017253

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Bidvest Group Ltd/The South Africa 624,325,772 76,329,509 1.29 1.29

Biesse SpA Italy 102,981,880 12,590,472 0.9 0.9

Bilfinger SE Germany 351,435,273 42,966,161 2.05 2.05

Bingo Industries Ltd Australia 176,888,550 21,626,236 2.62 2.62

Binh Minh Plastics JSC Vietnam 12,949,191 1,583,157 0.51 0.51

Bizlink Holding Inc Taiwan 73,180,272 8,946,955 0.83 0.83

Blue Dart Express Ltd India 25,525,971 3,120,782 0.18 0.18

Blue Star Ltd India 91,972,562 11,244,483 0.92 0.92

Bobst Group SA Switzerland 363,644,504 44,458,851 1.99 1.99

Bodycote PLCUnited

Kingdom882,983,992 107,952,831 4.57 4.57

Boer Power Holdings Ltd China 5,969,441 729,818 0.49 0.49

Boise Cascade CoUnited

States315,825,207 38,612,507 2.51 2.51

Bollore SA France 1,054,144,612 128,878,775 0.48 0.81

Bombardier Inc Canada 314,824,732 38,490,190 0.31 0.71

Booz Allen Hamilton Holding CorpUnited

States392,903,744 48,036,060 0.86 0.86

Boral Ltd Australia 894,705,612 109,385,906 1.53 1.53

Borosil Glass Works Ltd India 64,027,145 7,827,901 2.21 2.21

Boskalis Westminster Netherlands 182,582,535 22,322,377 0.47 0.47

Bossard Holding AG Switzerland 240,274,974 29,375,803 0.93 0.93

Boustead Projects Ltd Singapore 6,784,439 829,459 0.4 0.4

Boustead Singapore Ltd Singapore 23,984,783 2,932,358 0.87 0.87

Bouygues SA France 2,120,034,261 259,193,489 1.02 1.38

BOC Aviation Ltd Hong Kong 161,643,136 19,762,345 0.53 0.53

BOE Technology Group Co Ltd China 41,762,575 5,105,855 0.02 0.02

BOE Varitronix Ltd Hong Kong 51,158,578 6,254,602 1.29 1.29

Brady CorpUnited

States308,061,431 37,663,315 1.93

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017254

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Brambles Ltd Australia 1,258,060,051 153,809,294 1.23 1.23

Bravida Holding AB Sweden 162,851,384 19,910,064 1.46 1.46

Brickworks Ltd Australia 38,783,947 4,741,691 0.27 0.27

Bright Led Electronics Corp Taiwan 9,722,136 1,188,620 1.09 1.09

Brilliant Circle Holdings International Ltd China 40,395,443 4,938,711 2.32 2.32

Brink's Co/TheUnited

States322,640,180 39,445,699 0.99 0.99

Broadridge Financial Solutions IncUnited

States860,022,879 105,145,626 1 1

Brodrene Hartmann A/S Denmark 8,768,120 1,071,982 0.3 0.3

Brunel International NV Netherlands 68,153,193 8,332,348 0.91 0.91

BSC Drukarnia Opakowan SA Poland 40,493,634 4,950,715 4.62 4.62

Bucher Industries AG Switzerland 936,624,293 114,510,847 2.73 2.73

Budimex SA Poland 24,951,396 3,050,535 0.2 0.2

Bufab AB Sweden 34,145,858 4,174,642 0.84 0.84

Builders FirstSource IncUnited

States259,665,773 31,746,505 1.29 1.29

Bumi Armada Bhd Malaysia 272,448,148 33,309,266 3 3

Bunka Shutter Co Ltd Japan 108,850,663 13,307,985 1.91 1.91

Bunzl PLCUnited

Kingdom1,331,387,456 162,774,237 1.73 1.73

Burckhardt Compression Holding AG Switzerland 3,628,358 443,600 0.04 0.04

Bureau Veritas SA France 1,210,853,844 148,037,906 0.86 1.22

Burkhalter Holding AG Switzerland 15,367,552 1,878,823 0.24 0.24

Buzzi Unicem SpA Italy 546,363,649 66,797,930 1.08 1.45

Byucksan Corp South Korea 44,855,338 5,483,973 2.14 2.14

Cabcharge Australia Ltd Australia 33,492,417 4,094,753 2.23 2.23

Cahya Mata Sarawak Bhd Malaysia 54,392,253 6,649,948 0.64 0.64

Cal-Comp Electronics Thailand PCL Thailand 15,165,171 1,854,080 0.45 0.45

Canadian National Railway Co Canada 3,983,715,704 487,045,511 0.79 0.79

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017255

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Canadian Pacific Railway Ltd Canada 2,048,831,935 250,488,356 0.94 0.94

Capita PLCUnited

Kingdom664,167,454 81,200,518 2.24 2.24

Cardno Ltd Australia 9,838,411 1,202,835 0.22 0.22

Cardtronics PLCUnited

States116,114,556 14,196,062 1.68 1.68

Career Technology MFG. Co Ltd Taiwan 95,599,273 11,687,881 2.69 2.69

Cargotec Oyj Finland 785,218,498 96,000,110 1.13 2.62

Carlisle Cos IncUnited

States643,158,115 78,631,935 1.12 1.12

Casetek Holdings Ltd Taiwan 43,987,661 5,377,892 0.46 0.46

Catcher Technology Co Ltd Taiwan 928,064,681 113,464,356 1.34 1.34

Catering International Services France 1,171,940 143,280 0.05 0.09

Caterpillar IncUnited

States6,120,461,864 748,282,182 0.8 0.8

Caverion OYJ Finland 91,288,173 11,160,810 1.26 1.26

CAE Inc Canada 451,960,766 55,256,318 1.11 1.11

CBIZ IncUnited

States178,504,411 21,823,789 2.58 2.58

CCL Industries Inc Canada 407,359,701 49,803,432 0.61

CCR SA Brazil 521,803,684 63,795,251 0.65 0.65

Celebi Hava Servisi AS Turkey 3,737,507 456,944 0.19 0.19

Celestica Inc Canada 201,359,096 24,617,983 0.4 1.63

Cementir Holding SpA Italy 316,902,096 38,744,166 2.69 2.69

Cementos Argos SA Colombia 341,954,064 41,806,997 0.9 0.8

Cementos Pacasmayo SAA Peru 42,040,937 5,139,887 0.48 0.48

Cemex SAB de CV Mexico 1,260,185,527 154,069,153 1.41 1.41

Central Glass Co Ltd Japan 117,760,476 14,397,290 1.58 1.58

Century Plyboards India Ltd India 239,107,664 29,233,089 2.48 2.48

Century Textiles & Industries Ltd India 44,648,132 5,458,641 0.22 0.22

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017256

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cerved Information Solutions SpA Italy 675,412,394 82,575,314 3.33 3.33

CEMEX Holdings Philippines Inc Philippines 98,815,782 12,081,129 2.38 2.38

CEMEX Latam Holdings SA Colombia 201,717,817 24,661,839 1.2 1.2

CG Power and Industrial Solutions Ltd India 8,987,355 1,098,786 0.12 0.12

Chabiotech Co Ltd South Korea 6,470,424 791,068 0.07 0.07

Champion Building Materials Co Ltd Taiwan 3,968,317 485,163 0.39 0.39

Chaowei Power Holdings Ltd China 74,022,963 9,049,981 1.34 1.34

Chaozhou Three-Circle Group Co Ltd China 16,241,416 1,985,661 0.04 0.04

Chaun-Choung Technology Corp Taiwan 49,200,692 6,015,233 2.11 2.11

Chemring Group PLCUnited

Kingdom156,388,381 19,119,903 2.75 2.75

Cheng Uei Precision Industry Co Ltd Taiwan 141,501,296 17,299,822 2.01 2.01

Chennai Super Kings Cricket Ltd India 60 7 0

Chen Hsong Holdings China 1,091,096 133,396 0.07 0.07

Chicago Bridge & Iron Co NVUnited

States184,551,679 22,563,123 1.38 1.38

Chimei Materials Technology Corp Taiwan 18,821,534 2,301,104 0.85 0.85

China Aerospace International Holdings

LtdHong Kong 23,537,962 2,877,730 0.78 0.78

China Automation Group Ltd China 6,989,293 854,505 0.63 0.63

China CSSC Holdings Ltd China 19,670,184 2,404,859 0.05 0.05

China Electric Manufacturing Corp Taiwan 5,609,456 685,807 0.51 0.51

China Everbright Greentech Ltd China 32,452,731 3,967,642 0.22 0.22

China Everbright International Ltd China 660,513,465 80,753,784 1.26 1.26

China Fangda Group Co Ltd China 9,147,703 1,118,390 0.16 0.16

China Fiber Optic Network System

Group LtdChina 1,230,465 150,436 1.57 1.57

China International Marine Containers

Group Co LtdChina 78,467,425 9,593,357 0.17 0.17

China ITS Holdings Co Ltd China 5,033,358 615,374 0.56 0.56

China Lesso Group Holdings Ltd China 131,262,783 16,048,070 0.8 0.8

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017257

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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China Machinery Engineering Corp China 71,073,867 8,689,427 0.32 0.32

China Merchants Energy Shipping Co

LtdChina 11,131,294 1,360,902 0.04 0.04

China Merchants Port Holdings Co Ltd China 228,897,810 27,984,841 0.33 0.33

China Metal Products Taiwan 39,408,610 4,818,061 1.31 1.31

China National Materials Co Ltd China 217,227,330 26,558,019 1 1

China Railway Signal & Communication

Corp LtdChina 79,268,200 9,691,259 0.14 0.14

China Renewable Energy Investment Ltd China 208,231 25,458 0.03 0.03

China Resources Beer Holdings Co Ltd China 576,305,297 70,458,569 0.61 0.61

China Shipbuilding Industry Co Ltd China 74,224,587 9,074,631 0.05 0.05

China South City Holdings Ltd China 73,571,565 8,994,794 0.43 0.43

China State Construction Engineering

Corp LtdChina 299,948,046 36,671,379 0.09 0.09

Chin Well Holdings BHD Malaysia 16,099,610 1,968,324 1.47 1.47

Chin-Poon Industrial Co Ltd Taiwan 106,160,719 12,979,114 1.67 1.67

Chiyoda Corp Japan 2,597,425 317,559 0.02 0.02

Chiyoda Integre Co Ltd Japan 75,897,396 9,279,148 2.7 2.7

Chongqing Machinery & Electric Co Ltd China 3,299,781 403,428 0.1 0.1

Chroma ATE Inc Taiwan 130,393,734 15,941,821 0.72 0.72

Chudenko Corp Japan 95,262,378 11,646,693 0.69 0.69

Chugai Ro Co Ltd Japan 11,429,307 1,397,337 0.82 0.82

Chung-Hsin Electric & Machinery

Manufacturing CorpTaiwan 44,148,384 5,397,542 1.72 1.72

CH Karnchang PCL Thailand 22,918,995 2,802,056 0.2 0.2

CH Robinson Worldwide IncUnited

States694,573,351 84,917,915 0.68 0.68

Cia de Distribucion Integral Logista

Holdings SASpain 511,085,725 62,484,883 2 2

Cie de Saint-Gobain France 3,620,785,269 442,673,962 1.29 1.45

Cie d'Entreprises CFE Belgium 453,825,213 55,484,264 1.49 1.49

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017258

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cimpress NVUnited

States89,148,779 10,899,250 0.29 0.29

Cintas CorpUnited

States763,269,246 93,316,614 0.56 0.56

Citychamp Watch & Jewellery Group Ltd Hong Kong 7,185,980 878,551 0.08 0.08

CIMC Enric Holdings Ltd China 24,101,235 2,946,595 0.18 0.18

CIMIC Group Ltd Australia 775,764,406 94,844,261 0.73 0.73

CIRCOR International IncUnited

States112,579,198 13,763,832 1.43 1.43

CIR-Compagnie Industriali Riunite SpA Italy 182,337,946 22,292,474 2.01 2.01

CITIC Ltd China 653,240,411 79,864,587 0.19 0.19

CITIC Resources Holdings Ltd China 6,574,200 803,756 0.1 0.1

CI Takiron Corp Japan 85,697,803 10,477,337 1.51 1.51

CJ Logistics Corp South Korea 38,070,848 4,654,508 0.16 0.16

CKD Corp Japan 207,831,462 25,409,288 1.64 1.64

CK Hutchison Holdings Ltd Hong Kong 3,881,564,363 474,556,580 0.98 0.98

Cleanaway Co Ltd Taiwan 76,912,028 9,403,196 1.47 1.47

Cleanaway Waste Management Ltd Australia 373,080,109 45,612,440 1.97 1.91

Clean Harbors IncUnited

States220,523,267 26,960,977 0.87 0.87

CMK Corp Japan 137,947,243 16,865,306 2.95 2.95

CNH Industrial NV Italy 2,458,716,889 300,600,523 1.27 1.27

Coastal Contracts Bhd Malaysia 6,735,754 823,507 0.5 0.5

Cobham PLCUnited

Kingdom665,423,328 81,354,060 1.99 1.99

Cofide SpA Italy 55,072,699 6,733,139 1.35 1.35

Cognex CorpUnited

States794,065,321 97,081,714 0.92 0.92

Coherent IncUnited

States329,149,048 40,241,468 0.57 0.57

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017259

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cohort PLCUnited

Kingdom6,156,848 752,731 0.4 0.4

Colfax CorpUnited

States237,158,516 28,994,788 0.59 0.59

Collection House Ltd Australia 15,067,963 1,842,196 1.31 1.31

Colorado SA Morocco 11,765,670 1,438,460 1.36 1.36

Columbus McKinnon Corp/NYUnited

States50,346,523 6,155,321 0.67 0.67

Comet Holding AG Switzerland 37,730,209 4,612,862 0.38 0.38

Comfort Systems USA IncUnited

States332,432,568 40,642,908 2.51 2.51

Compeq Manufacturing Co Ltd Taiwan 256,200,579 31,322,853 2.04 2.04

Computershare Ltd Australia 635,131,086 77,650,557 1.12 1.12

Concentric AB Sweden 205,442,798 25,117,252 3.33 3.33

Conduent IncUnited

States305,629,661 37,366,008 1.1 1.1

Consolidated Infrastructure Group Ltd South Africa 15,030,743 1,837,645 2.98 2.98

Construcciones y Auxiliar de

Ferrocarriles SASpain 230,080,414 28,129,425 2 2

Container Corp Of India Ltd India 238,675,929 29,180,305 0.55 0.55

Contax Participacoes SA Brazil 85,434 10,445 0.22 0.22

Continental Building Products IncUnited

States82,790,526 10,121,896 0.95 0.95

Convergys CorpUnited

States382,270,879 46,736,095 2.15 2.15

Conzzeta AG Switzerland 315,651,902 38,591,319 1.2 1.2

Coor Service Management Holding AB Sweden 211,664 25,878 0

CoreLogic Inc/United StatesUnited

States461,596,533 56,434,378 1.48 1.48

Coretronic Corp Taiwan 94,750,628 11,584,127 2.33 2.33

Corticeira Amorim SGPS SA Portugal 58,733,486 7,180,703 0.44 0.44

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017260

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Cosan Logistica SA Brazil 81,680,752 9,986,216 0.77 0.77

Cosel Co Ltd Japan 39,190,565 4,791,403 0.78 0.78

Costain Group PLCUnited

Kingdom57,240,794 6,998,208 1.05 1.05

CoStar Group IncUnited

States585,398,493 71,570,295 0.67 0.67

Coteccons Construction JSC Vietnam 35,315,010 4,317,581 0.57 0.57

Cotiviti Holdings IncUnited

States209,890,814 25,661,063 0.86 0.86

Covanta Holding CorpUnited

States390,641,678 47,759,501 2.16 2.16

COMSYS Holdings Corp Japan 458,930,541 56,108,437 1.37 1.37

COSCO SHIPPING Development Co

LtdChina 33,140,529 4,051,731 0.17 0.17

COSCO SHIPPING Energy

Transportation Co LtdChina 85,066,160 10,400,113 0.47 0.47

COSCO SHIPPING Holdings Co Ltd China 21,587,115 2,639,221 0.05 0.05

COSCO SHIPPING Ports Ltd China 144,688,340 17,689,467 0.56 0.56

CPMC Holdings Ltd China 35,945,592 4,394,676 0.47 0.47

CPP Group PLCUnited

Kingdom1,698,496 207,657 0.14 0.14

Cramo OYJ Finland 290,632,457 35,532,464 3.35 3.35

Crane CoUnited

States459,665,890 56,198,340 1.06 1.06

Crompton Greaves Consumer

Electricals LtdIndia 189,421,308 23,158,479 0.86 0.86

Crown Holdings IncUnited

States606,172,498 74,110,106 0.98 0.98

CRH PLCUnited

Kingdom2,618,654,404 320,154,340 1.06 1.06

CRRC Corp Ltd China 492,699,133 60,236,954 0.18 0.18

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017261

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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CSBC Corp Taiwan Taiwan 16,069,721 1,964,670 0.7 0.7

CSG Holding Co Ltd China 62,127,847 7,595,695 0.5 0.5

CSR Ltd Australia 448,562,226 54,840,816 2.92 2.92

CSSC Offshore and Marine Engineering

Group Co LtdChina 83,677,785 10,230,371 0.46 0.46

CSX CorpUnited

States3,365,792,582 411,498,784 0.84 0.84

CTCI Corp Taiwan 144,645,841 17,684,271 1.53 1.53

CTS CorpUnited

States95,651,441 11,694,259 1.38 1.38

CTS Co Ltd Japan 6,324,202 773,191 0.22 0.22

CTS Eventim AG & Co KGaA Germany 679,294,721 83,049,964 1.86 1.86

CTT-Correios de Portugal SA Portugal 166,419,895 20,346,347 3.29 3.29

CT Environmental Group Ltd China 47,247,248 5,776,406 0.49 0.49

Cub Elecparts Inc Taiwan 15,792,336 1,930,757 0.21 0.21

Cummins IncUnited

States3,219,448,696 393,606,912 1.34 1.34

Curtiss-Wright CorpUnited

States637,320,237 77,918,201 1.45 1.45

Cypark Resources Bhd Malaysia 48,406,971 5,918,193 3.87 3.87

dormakaba Holding AG Switzerland 723,614,378 88,468,445 2.26 2.26

Daechang Forging Co Ltd South Korea 15,007,243 1,834,772 1.67 1.67

Daeduck Electronics Co South Korea 65,010,457 7,948,120 1.77 1.77

Daeduck GDS Co Ltd South Korea 88,765,857 10,852,434 2.06 1.86

Daelim Industrial Co Ltd South Korea 211,115,077 25,810,740 0.93 0.91

Daetwyler Holding AG Switzerland 246,695,901 30,160,820 0.45 0.45

Daewoo Engineering & Construction Co

LtdSouth Korea 187,322,488 22,901,879 1 1

Daewoo Shipbuilding & Marine

Engineering Co LtdSouth Korea 6,374,796 779,377 0.06 0.06

Daeyang Electric Co Ltd South Korea 11,432,232 1,397,694 1.28 1.28

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017262

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Daibochi Plastic & Packaging Industry

BhdMalaysia 8,793,021 1,075,027 0.58 0.58

Daido Metal Co Ltd Japan 52,890,188 6,466,307 1.45 1.45

Daifuku Co Ltd Japan 617,633,920 75,511,369 1.09 1.09

Daihen Corp Japan 309,020,409 37,780,558 2.94 2.94

Daiho Corp Japan 83,707,095 10,233,954 2.36 2.36

Daiichi Jitsugyo Co Ltd Japan 70,164,445 8,578,242 2.56 2.56

Daiken Corp Japan 87,116,719 10,650,812 1.62 1.62

Daikin Industries Ltd Japan 5,566,513,445 680,556,945 1.96 1.96

Daiseki Co Ltd Japan 138,470,489 16,929,278 1.41 1.41

Daiwabo Holdings Co Ltd Japan 149,592,248 18,289,014 2.31 2.31

Daiwa Industries Ltd Japan 86,344,026 10,556,343 1.78 1.78

Dai-Dan Co Ltd Japan 23,967,056 2,930,191 0.48 0.48

Daktronics IncUnited

States19,561,165 2,391,530 0.59 0.59

Dalekovod DD Croatia 1,455,804 177,985 0.24 0.24

Dalian Port PDA Co Ltd China 26,392,279 3,226,696 0.14 0.14

Danaher CorpUnited

States4,980,953,134 608,966,866 0.94 0.94

Dancomech Holdings Bhd Malaysia 3,634,359 444,333 1.42 1.42

Danel Adir Yeoshua Ltd Israel 26,269,876 3,211,731 1.17 1.17

Danieli & C Officine Meccaniche SpA Italy 254,355,620 31,097,290 0.36 2.22

Darfon Electronics Corp Taiwan 58,798,843 7,188,694 2.58 2.58

Darwin Precisions Corp Taiwan 99,726,762 12,192,504 1.47 1.47

Dassault Aviation SA France 663,273,852 81,091,267 0.39 0.63

Datalogic SpA Italy 356,921,832 43,636,943 2.02 2.02

Dawonsys Co Ltd South Korea 554,851 67,836 0.02 0.02

DCC PLCUnited

Kingdom1,157,341,767 141,495,567 1.57 1.57

Decmil Group Ltd Australia 30,014,127 3,669,500 2.08 2.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017263

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Deere & CoUnited

States4,578,089,317 559,713,097 1.11 1.11

Delta Electronics Inc Taiwan 903,082,534 110,410,061 0.88 0.88

Delta Electronics Thailand PCL Thailand 34,942,633 4,272,055 0.15 0.15

Deluxe CorpUnited

States364,886,459 44,610,691 1.21 1.21

Demco PCL Thailand 16,413,915 2,006,751 1.49 1.49

Denyo Co Ltd Japan 61,435,172 7,511,009 1.84 1.84

Derichebourg SA France 494,398,759 60,444,749 2.3 3.37

Destini Bhd Malaysia 28,023,290 3,426,102 2.31 2.31

Deutsche Post AG Germany 11,475,873,503 1,403,030,009 2.38 2.38

Deutz AG Germany 440,602,994 53,867,727 4.9 4.9

Development Investment Construction

JSCVietnam 25,969,631 3,175,024 1.47 1.47

Dexerials Corp Japan 105,639,210 12,915,355 1.57 1.57

De La Rue PLCUnited

Kingdom254,185,929 31,076,544 3.51 3.51

Dfds A/S Denmark 603,821,402 73,822,663 2.38 2.38

Diploma PLCUnited

Kingdom484,470,691 59,230,953 3.1 3.1

Dip Corp Japan 219,216,855 26,801,256 1.67 1.67

Disco Corp Japan 796,743,383 97,409,132 1.22 1.22

DIO Corp South Korea 16,714,135 2,043,455 0.41 0.41

DKSH Holdings Malaysia Bhd Malaysia 19,595,031 2,395,671 1.55 1.55

DKSH Holding AG Switzerland 461,705,166 56,447,660 1.04 1.04

DMC Global IncUnited

States12,862,140 1,572,514 0.43 0.43

DMG Mori AG Germany 269,864,236 32,993,360 0.76 0.76

DMG Mori Co Ltd Japan 226,050,915 27,636,782 1.06 1.06

Donaldson Co IncUnited

States466,947,026 57,088,525 0.9 0.9

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017264

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Dongfang Electric Corp Ltd China 35,400,214 4,327,998 0.23 0.23

Donnelley Financial Solutions IncUnited

States143,770,969 17,577,310 2.68 2.68

Doosan Bobcat Inc South Korea 118,395,330 14,474,907 0.43 0.43

Doosan Corp South Korea 62,616,714 7,655,463 0.38 0.29

Doosan Engine Co Ltd South Korea 8,200,060 1,002,532 0.42 0.42

Doosan Infracore Co Ltd South Korea 75,430,556 9,222,072 0.55 0.55

Dorian LPG LtdUnited

States4,091,742 500,253 0.11 0.11

Doshisha Co Ltd Japan 208,990,512 25,550,993 3.21 3.21

Dover CorpUnited

States1,920,171,326 234,758,425 1.49 1.49

Downer EDI Ltd Australia 1,034,658,879 126,496,467 3.92 3.92

DP World LtdUnited Arab

Emirates191,498,827 23,412,475 0.11 0.11

Dry Cell & Storage Battery JSC Vietnam 24,289,080 2,969,561 2.99 2.99

DRB-Hicom Bhd Malaysia 68,563,429 8,382,503 0.96 0.96

DSV A/S Denmark 2,370,119,647 289,768,704 1.94 1.94

DS Smith PLCUnited

Kingdom2,788,733,952 340,948,114 4.56 4.56

Duerr AG Germany 637,211,943 77,904,961 1.76 1.76

Duk San Neolux Co Ltd South Korea 4,140,585 506,224 0.09 0.09

DuluxGroup Ltd Australia 677,779,942 82,864,768 3.55 3.55

Duratex SA Brazil 32,481,076 3,971,107 0.21 0.21

Duty Free International Ltd Singapore 16,113,730 1,970,050 0.82 0.82

DXP Enterprises Inc/TXUnited

States17,105,062 2,091,250 0.41 0.41

Dynamic Electronics Co Ltd Taiwan 16,678,992 2,039,159 1.83 1.83

Dynapack International Technology Corp Taiwan 32,742,389 4,003,055 1.75 1.75

Dynasty Ceramic PCL Thailand 181,439,510 22,182,632 3.2 3.2

DY Corp South Korea 33,197,542 4,058,702 2.57 2.57

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017265

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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D/S Norden A/S Denmark 340,561 41,637 0.01 0.01

en-japan Inc Japan 20,202,885 2,469,987 0.11 0.11

Eagle Cement Corp Philippines 93,348,180 11,412,665 0.77 0.77

Eagle Industry Co Ltd Japan 108,702,331 13,289,850 1.43 1.43

Eagle Materials IncUnited

States365,316,871 44,663,313 0.81 0.81

East West Agro AB Lithuania 1,129,503 138,092 0.8 0.8

Eaton Corp PLCUnited

States5,322,589,094 650,734,972 1.87 1.87

Ea Technique M Bhd Malaysia 5,538,114 677,085 1.45 1.45

Ebara Corp Japan 177,402,283 21,689,044 0.56 0.56

Econpile Holdings Bhd Malaysia 100,628,808 12,302,788 3.08 3.08

EcoRodovias Infraestrutura e Logistica

SABrazil 65,679,001 8,029,856 0.39 0.39

ECA France 31,706,491 3,876,407 1.15 1.87

Eddie Stobart Logistics PLCUnited

Kingdom108,222,188 13,231,148 1.75 1.75

Edenred France 873,454,908 106,787,814 1.53 1.56

EEI Corp Philippines 56,440,661 6,900,385 2.77 2.77

EGE Seramik Sanayi ve Ticaret AS Turkey 22,079,726 2,699,448 2.97 2.97

Eicher Motors Ltd India 158,634,943 19,394,566 0.15 0.15

Eidai Co Ltd Japan 11,795,109 1,442,059 0.61 0.61

Eiffage SA France 1,671,124,403 204,310,172 1.65 1.9

Ekovest BHD Malaysia 27,855,669 3,405,609 0.7 0.7

Electra Ltd/Israel Israel 33,335,531 4,075,572 0.47 0.47

Electrocomponents PLCUnited

Kingdom896,686,429 109,628,079 2.92 2.92

Electro Power Systems SA France 17,699,749 2,163,955 1.84 1.84

Elektrobudowa SA Poland 25,586,026 3,128,125 2.95 2.95

Elektrotim SA Poland 5,119,179 625,866 2.49 2.49

Elematec Corp Japan 27,291,408 3,336,623 0.69 0.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017266

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Elemental Holding SA Poland 29,421,063 3,596,993 3.16 3.16

Elementia SAB de CV Mexico 67,929,637 8,305,017 0.63 0.63

Element Fleet Management Corp Canada 171,936,465 21,020,798 0.73 0.73

Elis SA France 1,127,829,612 137,887,438 2.19 2.28

Elite Advanced Laser Corp Taiwan 128,684,484 15,732,850 2.73 2.73

Elite Material Co Ltd Taiwan 205,373,756 25,108,811 2.3 2.3

Ellaktor SA Greece 40,366,890 4,935,220 1.43 1.43

ElSewedy Electric Co Egypt 308,501,210 37,717,081 2.05 2.05

Embraer SA Brazil 404,469,708 49,450,104 1.11 1.11

Emeco Holdings Ltd Australia 23,093,321 2,823,369 0.51 0.51

Emerson Electric CoUnited

States2,383,962,121 291,461,072 0.65 0.65

EMCOR Group IncUnited

States563,229,935 68,859,987 1.43 1.43

Enav SpA Italy 637,310,861 77,917,055 2.66 2.66

Encore Wire CorpUnited

States118,463,181 14,483,202 1.43 1.43

Enercare Inc Canada 117,912,265 14,415,848 0.83 0.83

EnerSysUnited

States384,155,274 46,966,479 1.6 1.6

Engility Holdings IncUnited

States114,300,890 13,974,324 1.34 1.34

Engineers India Ltd India 32,179,234 3,934,204 0.19 0.19

Enka Insaat ve Sanayi AS Turkey 22,528,532 2,754,318 0.04 0.04

Enplas Corp Japan 98,578,264 12,052,090 1.59 1.59

EnPro Industries IncUnited

States304,839,022 37,269,346 1.87 1.87

ENG Electric Co Ltd Taiwan 6,729,226 822,709 2.31 2.31

Essel Propack Ltd India 80,610,623 9,855,382 1.35 1.35

Essendant IncUnited

States74,823,688 9,147,877 2.62 2.62

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017267

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Essentra PLCUnited

Kingdom175,934,663 21,509,614 1.14 1.14

Esterline Technologies CorpUnited

States247,123,416 30,213,087 1.36 1.36

ESCO Technologies IncUnited

States80,087,355 9,791,408 0.63 0.63

ESPEC Corp Japan 52,140,904 6,374,700 1.06 1.06

ES Ceramics Technology Bhd Malaysia 2,992,648 365,878 2.4 2.4

Etteplan OYJ Finland 478,806 58,538 0.03 0.03

Eurazeo SA France 671,548,699 82,102,942 1.06 1.23

Euronav NV Belgium 297,021,688 36,313,605 2.47 2.47

Euronet Worldwide IncUnited

States360,503,996 44,074,895 0.99 0.99

Eusu Holdings Co Ltd South Korea 15,293,389 1,869,756 1.21 1.21

Evergreen Fibreboard Bhd Malaysia 29,640,741 3,623,850 2.67 2.67

Evergreen International Storage &

Transport CorpTaiwan 24,774,427 3,028,899 0.6 0.6

Everi Holdings IncUnited

States39,911,413 4,879,534 0.96 0.96

Everlight Electronics Co Ltd Taiwan 99,068,816 12,112,065 1.82 1.82

EVA Precision Industrial Holdings Ltd Hong Kong 31,610,462 3,864,667 1.37 1.37

EVERTEC IncUnited

States218,760,996 26,745,523 2.71 2.71

EVS Broadcast Equipment SA Belgium 138,940,829 16,986,781 3.55 3.55

Exel Composites OYJ Finland 16,368,745 2,001,228 2.13 2.13

ExlService Holdings IncUnited

States254,246,354 31,083,931 1.52 1.52

Expeditors International of Washington

Inc

United

States1,143,059,938 139,749,484 1.22 1.22

Experian PLCUnited

Kingdom2,772,337,546 338,943,504 1.67 1.67

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017268

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Exponent IncUnited

States155,312,709 18,988,393 1.03 1.03

E Ink Holdings Inc Taiwan 253,988,173 31,052,366 1.69 1.69

FabrinetUnited

States7,856,289 960,503 0.09 0.09

Famur SA Poland 56,520,656 6,910,165 0.69 0.69

Fastenal CoUnited

States1,153,473,162 141,022,595 0.9 0.9

FACC AG Austria 50,396,335 6,161,411 0.65 0.65

FANUC Corp Japan 4,468,907,011 546,364,566 1.11 1.11

FARO Technologies IncUnited

States134,438,823 16,436,370 2.09 2.09

Federal Signal CorpUnited

States256,986,276 31,418,912 2.61 2.61

FedEx CorpUnited

States3,397,350,966 415,357,084 0.62 0.62

Fenner PLCUnited

Kingdom283,779,469 34,694,624 3.31 3.31

Ferguson PLCUnited

Kingdom5,252,781,552 642,200,365 3.58 3.58

Ferreycorp SAA Peru 112,738,632 13,783,324 1.73 1.73

Ferronordic Machines AB Sweden 15,716,556 1,921,492 0.72 0.72

Ferrovial SA Spain 1,891,398,309 231,240,662 1.39 1.39

Ferro SA Poland 40,368,298 4,935,392 4.85 4.85

Fidelity National Information Services IncUnited

States1,889,462,031 231,003,934 0.74 0.74

Fincantieri SpA Italy 360,922,876 44,126,107 1.73 1.73

Fingerprint Cards AB Sweden 98,425,342 12,033,394 1.69 1.98

Finning International Inc Canada 387,003,581 47,314,711 1.11 1.11

First Data CorpUnited

States439,475,675 53,729,902 0.07 0.35

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017269

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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First Steamship Co Ltd Taiwan 13,063,801 1,597,169 0.84 0.84

First Tractor Co Ltd China 33,923,549 4,147,463 0.97 0.97

Fiserv IncUnited

States1,965,436,024 240,292,447 0.88 0.88

FleetCor Technologies IncUnited

States669,049,357 81,797,375 0.47 0.47

Fletcher Building LtdNew

Zealand666,197,572 81,448,718 2.16 2.16

Flexopack SA Greece 2,680 328 0

Flex LtdUnited

States805,251,899 98,449,375 1.04 1.04

Floor & Decor Holdings IncUnited

States52,379,363 6,403,854 0.14 0.14

Flowserve CorpUnited

States126,198,987 15,428,975 0.28 0.28

Fluegger A/S Denmark 1,001,646 122,460 0.03 0.07

Flughafen Wien AG Austria 221,306,351 27,056,716 0.8 0.8

Flughafen Zurich AG Switzerland 1,003,533,185 122,691,068 1.75 1.75

Fluidra SA Spain 111,079,157 13,580,438 0.83 0.83

FLEXium Interconnect Inc Taiwan 162,754,296 19,898,194 1.75 1.75

FLIR Systems IncUnited

States515,567,748 63,032,851 0.98 0.98

FLSmidth & Co A/S Denmark 762,266,368 93,194,003 3.12 3.12

FMS Enterprises Migun Ltd Israel 21,516,850 2,630,631 0.78 0.78

Fomento de Construcciones y Contratas

SASpain 38,580,947 4,716,872 0.12 0.12

Forbo Holding AG Switzerland 523,029,564 63,945,126 2.28 2.28

Forest Water Environment Engineering

Co LtdTaiwan 409,911 50,115 0.02 0.02

Fortive CorpUnited

States2,187,534,797 267,446,044 1.06 1.06

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017270

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Fortune Brands Home & Security IncUnited

States727,929,616 88,996,022 0.86 0.86

Forward Air CorpUnited

States294,284,200 35,978,923 2.1 2.1

Foshan Huaxin Packaging Co Ltd China 6,043,629 738,889 0.27 0.27

Foster Electric Co Ltd Japan 250,088,285 30,575,570 4.57 4.57

Foxconn Technology Co Ltd Taiwan 363,259,015 44,411,722 1.1 1.1

FP Corp Japan 580,334,850 70,951,219 2.98 2.98

Franklin Electric Co IncUnited

States225,624,970 27,584,707 1.29 1.29

Fraport AG Frankfurt Airport Services

WorldwideGermany 1,103,848,806 134,955,566 1.34 1.34

Fraser and Neave Ltd Singapore 17,882,994 2,186,359 0.08 0.08

Freightways LtdNew

Zealand165,670,076 20,254,675 2.39 2.39

Freund Corp Japan 1,896,818 231,903 0.1 0.1

Frontken Corp Bhd Malaysia 27,856,546 3,405,716 2.86 2.86

FSP Technology Inc Taiwan 15,728,810 1,922,990 1.24 1.24

FTI Consulting IncUnited

States361,060,961 44,142,990 2.71 2.71

Fudo Tetra Corp Japan 57,842,532 7,071,776 2.39 2.39

Fujikura Ltd Japan 325,456,335 39,790,000 1.52 1.52

Fujitec Co Ltd Japan 167,986,636 20,537,896 1.52 1.52

Fuji Electric Co Ltd Japan 634,261,634 77,544,259 1.38 1.38

Fuji Machine Manufacturing Co Ltd Japan 338,288,903 41,358,898 2.2 2.2

Fuji Seal International Inc Japan 289,796,831 35,430,301 1.8 1.8

Fukuda Corp Japan 49,671,634 6,072,809 1.12 1.12

Fukushima Industries Corp Japan 122,203,225 14,940,457 1.53 1.53

Fukuyama Transporting Co Ltd Japan 159,369,139 19,484,328 0.92 0.92

Funai Soken Holdings Inc Japan 51,240,588 6,264,628 0.53 0.53

Furukawa Co Ltd Japan 43,444,988 5,311,545 0.64 0.64

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017271

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Furukawa Electric Co Ltd Japan 421,304,838 51,508,352 1.48 1.48

Furuno Electric Co Ltd Japan 47,980,545 5,866,058 2.48 2.48

Futaba Corp Japan 56,697,379 6,931,771 0.76 0.76

Future World Financial Holdings Ltd Hong Kong 238,849 29,202 0.01 0.01

FULLCAST Holdings Co Ltd Japan 11,125,027 1,360,136 0.17 0.17

G4S PLCUnited

Kingdom939,249,363 114,831,785 2.05 2.05

Gabungan AQRS Bhd Malaysia 50,300,737 6,149,723 2.86 2.86

Gadang Holdings BHD Malaysia 59,620,292 7,289,123 4.03 4.03

Gamuda Bhd Malaysia 530,543,193 64,863,735 2.16 2.16

Gardner Denver Holdings IncUnited

States470,522,299 57,525,635 0.86 0.86

GasLog LtdUnited

States104,433,632 12,767,962 0.71 0.71

Gateway Distriparks Ltd India 14,863,101 1,817,149 0.45 0.45

Gaztransport Et Technigaz SA France 387,588,561 47,386,230 2.12 2.12

GARO AB Sweden 486,177 59,440 0.03 0.03

GATX CorpUnited

States149,936,042 18,331,046 0.77 0.77

GD Express Carrier Bhd Malaysia 16,507,495 2,018,192 0.24 0.24

Geberit AG Switzerland 2,122,303,957 259,470,980 1.59 1.59

Gecoss Corp Japan 46,278,892 5,658,016 1.25 1.25

Generac Holdings IncUnited

States273,077,705 33,386,235 1.08 1.08

General Cable CorpUnited

States164,929,814 20,164,171 1.36 1.36

General Electric CoUnited

States10,289,664,470 1,258,005,156 0.83 0.83

General Interface Solution Holding Ltd Taiwan 207,628,530 25,384,478 1.12 1.12

Genesee & Wyoming IncUnited

States205,811,620 25,162,344 0.51 0.51

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017272

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Genius Electronic Optical Co Ltd Taiwan 67,092,489 8,202,668 0.91 0.91

Genpact LtdUnited

States490,063,118 59,914,678 0.98 0.98

George Kent Malaysia BHD Malaysia 36,820,117 4,501,595 0.92 0.92

Georg Fischer AG Switzerland 1,289,745,961 157,683,185 2.84 2.84

GeoVision Inc Taiwan 11,072,219 1,353,680 1.15 1.15

Gesco AG Germany 6,862,099 838,954 0.21 0.21

Getlink SE France 819,377,582 100,176,369 1.22 1.41

Geumhwa PSC Co Ltd South Korea 10,865,908 1,328,456 0.55 0.55

GEA France 2,662,629 325,531 0.18 0.26

GEA Group AG Germany 2,010,870,643 245,847,242 2.66 2.66

GEK Terna Holding Real Estate

Construction SAGreece 44,577,766 5,450,038 0.99 0.99

GE Power India Ltd India 7,981,671 975,832 0.13 0.13

Giantplus Technology Co Ltd Taiwan 1,201,263 146,865 0.05 0.05

Gibraltar Industries IncUnited

States79,495,602 9,719,061 0.93 0.93

Gigastorage Corp Taiwan 905,444 110,699 0.06 0.06

Giken Ltd Japan 3,856,819 471,531 0.07 0.07

Gima TT SpA Italy 182,390,441 22,298,892 1.27

Globaltrans Investment PLC Russia 114,308,458 13,975,250 0.83 0.83

Global Brands Manufacture Ltd Taiwan 33,219,940 4,061,440 1.74 1.74

Global Brass & Copper Holdings IncUnited

States13,416,888 1,640,337 0.23 0.23

Global Dominion Access SA Spain 111,988,841 13,691,655 1.56 1.56

Global Payments IncUnited

States690,439,422 84,412,505 0.53 0.53

Globe Union Industrial Corp Taiwan 44,642,048 5,457,897 2.01 2.01

Glory Ltd Japan 358,779,678 43,864,082 1.69 1.69

GL Events France 87,330,603 10,676,961 0.98 1.55

GMexico Transportes SAB de CV Mexico 194,344,203 23,760,348 0.38 0.38

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017273

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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GMO Payment Gateway Inc Japan 3,789,584 463,311 0.02 0.02

Goldsun Building Materials Co Ltd Taiwan 41,938,214 5,127,328 1.09 1.09

Gold Circuit Electronics Ltd Taiwan 37,451,013 4,578,727 2.33 2.33

Gooch & Housego PLCUnited

Kingdom30,380,132 3,714,248 0.76 0.76

Graco IncUnited

States524,813,645 64,163,246 0.84 0.84

Grafton Group PLCUnited

Kingdom547,412,046 66,926,106 2.6 2.6

Grana y Montero SAA Peru 17,476,283 2,136,635 0.56 0.56

Granite Construction IncUnited

States73,491,867 8,985,050 0.36 0.36

Graphic Packaging Holding CoUnited

States593,842,909 72,602,702 1.52 1.52

Grasim Industries Ltd India 187,072,006 22,871,256 0.19 0.19

Greatview Aseptic Packaging Co Ltd China 98,483,358 12,040,487 1.24 1.24

Great China Metal Industry Taiwan 28,915,693 3,535,207 1.37 1.37

Great Eastern Shipping Co Ltd/The India 25,652,996 3,136,312 0.33 0.33

Greenbrier Cos Inc/TheUnited

States187,202,691 22,887,233 1.5 1.5

Green Seal Holding Ltd Taiwan 3,656,244 447,009 0.13 0.13

Greif IncUnited

States253,652,490 31,011,326 1.07

Griffon CorpUnited

States32,186,559 3,935,100 0.41 0.41

Groupe Crit France 862,083 105,397 0.01 0.01

Groupe Gorge France 48,318,498 5,907,376 1.51 2.33

Groupe Guillin France 36,664,156 4,482,527 0.59 0.59

Grupo Aeroportuario del Centro Norte

SAB de CVMexico 304,041,080 37,171,790 1.78 1.78

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017274

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Grupo Aeroportuario del Pacifico SAB

de CVMexico 196,653,859 24,042,725 0.41 0.41

Grupo Aeroportuario del Sureste SAB

de CVMexico 368,691,854 45,075,936 0.82 0.82

Grupo Cementos de Chihuahua SAB de

CVMexico 224,369,854 27,431,257 1.76 1.76

Grupo Industrial Saltillo SAB de CV Mexico 149,705,675 18,302,882 3 3

Grupo Lamosa SAB de CV Mexico 170,044,711 20,789,514 2.44 2.44

Grupo Rotoplas SAB de CV Mexico 257,058,195 31,427,705 4.19 4.19

Grupo Traxion SAB de CV Mexico 68,993,858 8,435,127 1.95 1.95

GRENKE AG Germany 226,544,491 27,697,126 0.66 0.66

GS Engineering & Construction Corp South Korea 46,282,826 5,658,497 0.3 0.3

Guangdong Provincial Expressway

Development Co LtdChina 46,740,468 5,714,448 0.31 0.31

Guangzhou KDT Machinery Co Ltd China 54,780,908 6,697,465 0.52 0.52

Gujarat Pipavav Port Ltd India 4,348,080 531,592 0.05 0.05

Gulf Energy Development PCL Thailand 86,006,529 10,515,081 0.25

Gunkul Engineering PCL Thailand 3,822,605 467,348 0.05 0.05

Gunnebo AB Sweden 12,247,991 1,497,428 0.48 0.48

Guoxuan High-Tech Co Ltd China 16,356,314 1,999,708 0.05 0.05

GWA Group Ltd Australia 131,246,377 16,046,064 2.73 2.73

G Tech Optoelectronics Corp Taiwan 6,954,514 850,253 0.7 0.7

Haitian International Holdings Ltd China 180,552,457 22,074,182 0.46 0.46

Hakuto Co Ltd Japan 57,286,605 7,003,809 1.69 1.69

Halma PLCUnited

Kingdom836,605,680 102,282,661 1.58 1.58

Hamakyorex Co Ltd Japan 202,503,710 24,757,922 4.55 4.55

Hamamatsu Photonics KK Japan 308,869,093 37,762,058 0.67 0.67

Hamburger Hafen und Logistik AG Germany 382,213,411 46,729,069 2.24 2.24

Hana Microelectronics PCL Thailand 67,424,171 8,243,219 0.75 0.75

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017275

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hangzhou Hikvision Digital Technology

Co LtdChina 339,127,856 41,461,468 0.08 0.08

Hangzhou Steam Turbine Co Ltd China 36,023,961 4,404,257 0.57 0.57

Hanil Cement Co Ltd South Korea 135,326,465 16,544,892 1.64 1.64

Hanjin Heavy Industries & Construction

Co LtdSouth Korea 518,182 63,352 0.02 0.02

Hanjin Heavy Industries & Construction

Holdings Co LtdSouth Korea 1,349,641 165,006 0.15 0.15

Hanjin Transportation Co Ltd South Korea 5,812,855 710,674 0.24 0.24

HannsTouch Solution Inc Taiwan 16,885,795 2,064,442 0.93 0.93

Hansol Technics Co Ltd South Korea 21,543,909 2,633,939 0.76 0.76

Hanwa Co Ltd Japan 512,848,281 62,700,371 3.2 3.2

Hanwha Techwin Co Ltd South Korea 89,038,784 10,885,802 0.62 0.62

Han's Laser Technology Industry Group

Co LtdChina 560,906,235 68,575,894 0.85 0.85

Hapag-Lloyd AG Germany 178,673,647 21,844,480 0.31 0.31

Harbin Electric Co Ltd China 19,741,747 2,413,608 0.42 0.42

Harbour-Link Group Bhd Malaysia 9,956,793 1,217,309 1.54 1.54

Harmonic Drive Systems Inc Japan 19,235,304 2,351,691 0.04 0.04

Harsco CorpUnited

States308,051,871 37,662,146 2.51 2.51

Harvatek Corp Taiwan 2,072,885 253,429 0.19 0.19

Harvey Nash Group PLCUnited

Kingdom13,130,082 1,605,272 1.79 1.79

Haseko Corp Japan 1,282,105,465 156,749,065 3.35 3.35

Haulotte Group SA France 95,214,878 11,640,886 1.23 1.92

Havells India Ltd India 953,246,095 116,543,013 2.12 2.12

Hays PLCUnited

Kingdom476,932,363 58,309,323 1.62 1.62

Hazama Ando Corp Japan 184,628,099 22,572,466 1.56 1.56

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017276

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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HD Supply Holdings IncUnited

States637,977,318 77,998,535 1.04 1.04

Heartland Express IncUnited

States16,939,856 2,071,052 0.11 0.11

HeidelbergCement AG Germany 2,856,674,373 349,254,448 1.62 1.62

Heidelberger Druckmaschinen AG Germany 310,810,086 37,999,363 3.95 3.95

Henderson Investment Ltd Hong Kong 14,966,771 1,829,824 0.71 0.71

Herkules SA Poland 4,578,771 559,796 1.4 1.4

HeveaBoard Bhd Malaysia 15,687,244 1,917,908 1.17 1.17

Hexcel CorpUnited

States326,664,591 39,937,720 0.72 0.72

HEICO CorpUnited

States432,347,514 52,858,420 1.43 0.66

Hibiya Engineering Ltd Japan 87,065,980 10,644,609 1.61 1.61

Hills Ltd Australia 2,828,299 345,785 0.93 0.93

Hill & Smith Holdings PLCUnited

Kingdom287,608,513 35,162,759 2.47 2.47

Hino Motors Ltd Japan 376,532,329 46,034,505 0.62 0.62

Hioki EE Corp Japan 22,401,544 2,738,793 0.77 0.77

HiPay Group SA France 14,628 1,788 0

Hirano Tecseed Co Ltd/Kinzoku Japan 26,989,749 3,299,742 0.9 0.9

Hirose Electric Co Ltd Japan 577,825,129 70,644,382 1.21 1.21

Hisaka Works Ltd Japan 21,693,335 2,652,208 0.76 0.76

Hitachi Construction Machinery Co Ltd Japan 217,438,811 26,583,874 0.34 0.34

Hitachi Ltd Japan 3,998,254,203 488,822,975 1.3 1.3

Hitachi Transport System Ltd Japan 403,876,492 49,377,578 1.69 1.69

Hitachi Zosen Corp Japan 97,480,714 11,917,905 1.33 1.33

Hito Communications Inc Japan 132,424,145 16,190,057 3.51 3.51

Hiwin Technologies Corp Taiwan 210,899,099 25,784,335 0.85 0.85

Hi-P International Ltd Singapore 26,473,925 3,236,678 0.29 0.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017277

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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HI-LEX CORP Japan 87,957,308 10,753,582 1.13 1.13

Hoa Phat Group JSC Vietnam 517,709,258 63,294,670 2.02 2.02

Hochiki Corp Japan 5,319,678 650,379 0.1 0.1

Hokkan Holdings Ltd Japan 22,035,597 2,694,052 0.99 0.99

Hokuetsu Industries Co Ltd Japan 11,070,287 1,353,443 0.4 0.4

Hokuriku Electrical Construction Co Ltd Japan 5,026,688 614,558 0.24 0.24

Hollysys Automation Technologies Ltd China 207,226,183 25,335,287 1.89 1.89

Holy Stone Enterprise Co Ltd Taiwan 60,566,851 7,404,849 1.25 1.25

Homag Group AG Germany 10,750,210 1,314,311 0.11 0.11

HomeServe PLCUnited

Kingdom649,033,481 79,350,252 2.2 2.2

Hongfa Technology Co Ltd China 123,089,724 15,048,839 0.45 0.45

Hong Leong Asia Ltd Singapore 3,922,710 479,587 0.16 0.16

Hon Hai Precision Industry Co Ltd Taiwan 5,088,229,320 622,082,356 1.12 1.12

Hopewell Highway Infrastructure Ltd Hong Kong 92,669,428 11,329,681 0.58 0.58

Horiba Ltd Japan 4,486,408 548,504 0.02 0.02

Hoshizaki Corp Japan 361,954,198 44,252,196 0.69 0.69

Hosiden Corp Japan 106,225,452 12,987,028 1.3 1.3

Hosokawa Micron Corp Japan 131,577,668 16,086,568 2.6 2.6

Howden Joinery Group PLCUnited

Kingdom811,942,556 99,267,369 2.53 2.53

Hoya Corp Japan 2,082,596,721 254,616,409 1.32 1.32

Ho Chi Minh City Infrastructure

Investment JSCVietnam 86,742,863 10,605,105 2.79 2.79

HOCHTIEF AG Germany 1,022,362,144 124,993,079 1.1 1.1

HRnetgroup Ltd Singapore 18,260,319 2,232,490 0.39 0.39

Hsing TA Cement Co Taiwan 421,418 51,522 0.03 0.03

Huang Hsiang Construction Corp Taiwan 17,822,100 2,178,914 0.66 0.66

Huaxin Cement Co Ltd China 67,821,735 8,291,825 0.45 0.45

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017278

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hubbell IncUnited

States390,719,902 47,769,065 0.65 0.65

Hub Group IncUnited

States187,159,280 22,881,926 1.02 1.4

Hudaco Industries Ltd South Africa 47,603,976 5,820,019 1.47 1.47

Hudson Technologies IncUnited

States62,017,376 7,582,189 2.97 2.97

Huhtamaki OYJ Finland 419,901,849 51,336,824 1.13 1.13

Human Soft Holding Co KSC Kuwait 344,060,011 42,064,469 2.78 2.78

Hume Industries Bhd Malaysia 26,788,417 3,275,128 1.28 1.28

Hunan Aihua Group Co Ltd China 111,679,953 13,653,891 0.77 0.77

Hung Sheng Construction Ltd Taiwan 49,395,913 6,039,100 1.14 1.14

Huron Consulting Group IncUnited

States197,423,982 24,136,879 2.7 2.7

Hutchison Port Holdings Trust Singapore 332,131,422 40,606,090 1.12 1.12

Hu Lane Associate Inc Taiwan 51,891,741 6,344,238 1.27 1.27

HUA ENG Wire & Cable Co Ltd Taiwan 18,017,809 2,202,841 0.88 0.88

Hyosung Corp South Korea 296,206,911 36,213,991 0.79 0.79

Hyster-Yale Materials Handling IncUnited

States127,761,833 15,620,047 0.36 1.11

Hyundai Construction Equipment Co Ltd South Korea 95,555,132 11,682,485 0.75 0.75

Hyundai Corp South Korea 100,475,707 12,284,070 5.1 5.1

Hyundai Development Co-Engineering

& ConstructionSouth Korea 274,779,689 33,594,318 1.24 1.24

Hyundai Electric & Energy System Co

LtdSouth Korea 39,759,299 4,860,936 0.45 0.45

Hyundai Elevator Co Ltd South Korea 133,064,378 16,268,332 1.3 1.3

Hyundai Engineering & Construction Co

LtdSouth Korea 284,328,055 34,761,693 0.92 0.92

Hyundai Glovis Co Ltd South Korea 373,588,421 45,674,586 0.96 0.96

Hyundai Heavy Industries Co Ltd South Korea 334,470,696 40,892,087 0.77 0.77

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017279

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hyundai Merchant Marine Co Ltd South Korea 33,120,416 4,049,272 0.28 0.28

Hyundai Mipo Dockyard Co Ltd South Korea 29,507,299 3,607,536 0.25 0.25

Hyundai Robotics Co Ltd South Korea 431,044,161 52,699,073 0.91 0.91

Hyundai Rotem Co Ltd South Korea 36,866,550 4,507,271 0.3 0.3

H&E Equipment Services IncUnited

States242,260,615 29,618,566 2.04 2.04

iMarketKorea Inc South Korea 37,899,930 4,633,611 1.53 1.53

Ibiden Co Ltd Japan 338,551,695 41,391,027 1.96 1.96

Ibstock PLCUnited

Kingdom450,252,661 55,047,487 3.76 3.76

Ichia Technologies Inc Taiwan 16,967,372 2,074,416 1.11 1.11

ICF International IncUnited

States102,727,442 12,559,365 1.28 1.28

Idec Corp/Japan Japan 74,113,346 9,061,031 1.14 1.14

IDEX CorpUnited

States602,062,218 73,607,587 0.73 0.73

IHI Corp Japan 274,825,063 33,599,866 0.65 0.65

Iino Kaiun Kaisha Ltd Japan 83,660,081 10,228,207 1.63 1.63

II-VI IncUnited

States38,391,296 4,693,685 0.16 0.16

Illinois Tool Works IncUnited

States5,477,770,966 669,707,369 1.17 1.17

IL&FS Transportation Networks Ltd India 94,388,499 11,539,853 2.68 2.68

Impel SA Poland 20,855,619 2,549,789 2.16 3

Imperial Holdings Ltd South Africa 66,055,979 8,075,945 0.19 0.19

Imperva IncUnited

States30,428,231 3,720,128 0.28 0.28

Implenia AG Switzerland 198,635,061 24,284,945 1.94 1.94

IMI PLCUnited

Kingdom760,752,450 93,008,913 1.9 1.9

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017280

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Inaba Denki Sangyo Co Ltd Japan 200,393,852 24,499,973 1.88 1.88

India Cements Ltd/The India 65,125,760 7,962,217 0.9 0.9

Indonesia Pondasi Raya Tbk PT Indonesia 18,610,381 2,275,288 1.47 1.47

Industria Macchine Automatiche SpA Italy 325,323,060 39,773,706 1.24 1.24

Industries Qatar QSC Qatar 42,847,357 5,238,479 0.03 0.03

Indus Holding AG Germany 358,307,724 43,806,381 2.51 2.51

Indutrade AB Sweden 251,314,345 30,725,467 0.93 0.93

Inficon Holding AG Switzerland 149,288,497 18,251,878 1.19 1.19

Infomart Corp Japan 41,995,040 5,134,276 0.66 0.66

Infratil LtdNew

Zealand145,489,650 17,787,434 1.35 1.35

Ingersoll-Rand PLCUnited

States1,843,041,770 225,328,635 1.01 1.01

Insperity IncUnited

States518,623,989 63,406,504 2.65 2.65

Installed Building Products IncUnited

States94,233,731 11,520,931 0.48 0.48

Insun ENT Co Ltd South Korea 3,668,337 448,488 0.19 0.19

Intage Holdings Inc Japan 8,679,913 1,061,198 0.2 0.2

Integer Holdings CorpUnited

States149,689,327 18,300,883 1.28 1.28

Interflex Co Ltd South Korea 8,464,068 1,034,809 0.12 0.12

International Container Terminal

Services IncPhilippines 428,477,950 52,385,330 1.22 1.22

Interpump Group SpA Italy 728,674,199 89,087,054 2.6 2.6

Interroll Holding AG Switzerland 186,252,940 22,771,117 1.8 1.8

Intertek Group PLCUnited

Kingdom1,649,964,840 201,723,222 1.78 1.78

Inwido AB Sweden 4,458,009 545,032 0.09 0.09

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017281

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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IPG Photonics CorpUnited

States524,790,485 64,160,414 0.56 0.56

IPH Ltd Australia 26,645,754 3,257,686 0.38 0.38

Iriso Electronics Co Ltd Japan 84,488,508 10,329,489 0.7 0.7

IRB Infrastructure Developers Ltd India 13,733,285 1,679,019 0.13 0.13

Iseki & Co Ltd Japan 38,477,811 4,704,263 0.81 0.81

Iskandar Waterfront City Bhd Malaysia 12,333,461 1,507,878 0.51 0.51

Isuzu Motors Ltd Japan 1,309,768,727 160,131,151 1.13 1.13

ISS A/S Denmark 1,258,889,549 153,910,708 2.14 2.14

IS Dongseo Co Ltd South Korea 15,439,588 1,887,630 0.19 0.19

Italian-Thai Development PCL Thailand 4,003,010 489,404 0.08 0.08

Italmobiliare SpA Italy 132,740,040 16,228,678 1.19 1.19

Itron IncUnited

States335,915,633 41,068,744 1.56 1.56

ITEQ Corp Taiwan 133,608,421 16,334,846 2.46 2.46

ITOCHU Corp Japan 2,948,750,978 360,511,652 1.16 1.16

ITT IncUnited

States373,618,931 45,678,316 0.97 0.97

IWG PLCUnited

Kingdom560,961,871 68,582,696 2.16 2.16

Jabil IncUnited

States406,452,861 49,692,563 1.07 1.07

Jack Henry & Associates IncUnited

States653,083,751 79,845,434 0.88 0.88

Jain Irrigation Systems Ltd India 46,835,830 5,726,107 0.58 0.57

Jaiprakash Associates Ltd India 9,308,465 1,138,045 0.11 0.11

Jamco Corp Japan 3,144,610 384,457 0.06 0.06

James Fisher & Sons PLCUnited

Kingdom116,883,834 14,290,113 1.35 1.35

James Hardie Industries PLC Australia 629,218,330 76,927,669 0.98 0.98

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017282

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Japan Airport Terminal Co Ltd Japan 27,102,873 3,313,573 0.11 0.11

Japan Aviation Electronics Industry Ltd Japan 252,282,224 30,843,799 1.97 1.97

Japan Cash Machine Co Ltd Japan 3,360,025 410,794 0.14 0.14

Japan Display Inc Japan 68,460,482 8,369,917 0.69 0.69

Japan Material Co Ltd Japan 133,309,315 16,298,277 1.28 1.28

Japan Steel Works Ltd/The Japan 150,832,501 18,440,646 0.77 0.77

Japan Transcity Corp Japan 32,570,585 3,982,050 1.37 1.37

Jardine Matheson Holdings Ltd Hong Kong 1,704,984,156 208,449,835 0.47 0.47

Jardine Strategic Holdings Ltd Hong Kong 1,130,800,408 138,250,644 0.32 0.32

Jasa Marga Persero Tbk PT Indonesia 321,956,622 39,362,128 1.15 1.15

JAC Recruitment Co Ltd Japan 74,152,831 9,065,859 1.13 1.13

JB Hunt Transport Services IncUnited

States606,517,833 74,152,327 0.59 0.59

Jenoptik AG Germany 577,363,404 70,587,932 3.73 3.73

Jensen-Group NV Belgium 8,205,750 1,003,228 0.27 0.27

Jentech Precision Industrial Co Ltd Taiwan 31,201,248 3,814,637 1.6 1.6

Jeol Ltd Japan 98,129,326 11,997,203 2.16 2.16

JELD-WEN Holding IncUnited

States489,826,480 59,885,746 1.44 1.44

JET CONTRACTORS Morocco 13,706,463 1,675,740 1.76 1.76

JGC Corp Japan 182,054,911 22,257,870 0.44 0.44

Jiangsu Expressway Co Ltd China 212,017,942 25,921,124 0.34 0.34

JK Lakshmi Cement Ltd India 174,430,328 21,325,696 2.63 2.63

Johnson Controls International plcUnited

States1,867,979,116 228,377,452 0.65 0.65

Johnson Electric Holdings Ltd Hong Kong 252,039,888 30,814,171 0.84 0.84

Johnson Service Group PLCUnited

Kingdom35,006,943 4,279,917 0.6 0.6

John Bean Technologies CorpUnited

States142,461,424 17,417,206 0.5 0.5

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017283

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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John Keells Holdings PLC Sri Lanka 18,224,232 2,228,078 0.17 0.17

John Menzies PLCUnited

Kingdom30,117,884 3,682,185 0.48 0.48

JSL SA Brazil 27,366,715 3,345,830 0.66 0.66

Juki Corp Japan 85,322,867 10,431,497 2.11 2.11

Jungheinrich AG Germany 400,220,729 48,930,628 1.02

JWD Infologistics PCL Thailand 87,998,934 10,758,671 2.84 2.84

J Touch Corp Taiwan 866 106 0.22 0.22

Kadant IncUnited

States14,125,577 1,726,980 0.16 0.16

Kajaria Ceramics Ltd India 466,327,461 57,012,777 3.14 3.14

Kajima Corp Japan 1,332,677,373 162,931,941 1.6 1.6

Kaman CorpUnited

States259,780,071 31,760,479 1.94 1.94

Kama Co Ltd China 7,016,278 857,804 0.14 0.14

Kamigumi Co Ltd Japan 95,221,910 11,641,745 0.38 0.38

Kanaden Corp Japan 35,719,776 4,367,068 1.14 1.14

Kanamoto Co Ltd Japan 112,088,786 13,703,874 1.22 1.22

Kandenko Co Ltd Japan 280,315,609 34,271,135 1.59 1.59

Kanematsu Corp Japan 305,231,377 37,317,315 3.19 3.19

Kanger International Bhd Malaysia 4,711,230 575,991 1.42 1.42

Kansai Nerolac Paints Ltd India 17,573,991 2,148,580 0.04 0.04

Kansas City SouthernUnited

States1,036,440,089 126,714,236 1.16 1.16

Kapsch TrafficCom AG Austria 133,711,745 16,347,478 2.1 2.1

Kardan Yazamut 2011 Ltd Israel 3,018,697 369,063 0.53 0.53

Kardex AG Switzerland 46,411,927 5,674,281 0.6 0.6

Katakura Industries Co Ltd Japan 17,945,675 2,194,022 0.46 0.46

Kato Works Co Ltd Japan 40,908,299 5,001,412 1.4 1.4

Kawasaki Heavy Industries Ltd Japan 618,821,258 75,656,532 1.29 1.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017284

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kawasaki Kisen Kaisha Ltd Japan 58,603,059 7,164,757 0.3 0.3

KAP Industrial Holdings Ltd South Africa 51,730,203 6,324,488 0.37 0.37

KAWADA TECHNOLOGIES Inc Japan 50,969,293 6,231,460 1.88 1.88

KBR IncUnited

States123,905,483 15,148,573 0.55 0.55

KCC Corp South Korea 221,483,739 27,078,403 0.72 0.72

KCE Electronics PCL Thailand 359,662,491 43,972,014 2.95 2.95

KC Co Ltd South Korea 9,076,681 1,109,707 0.35 0.35

Keller Group PLCUnited

Kingdom307,804,759 37,631,934 3.97 3.97

Kelly Services IncUnited

States159,791,193 19,535,928 1.86

Kennametal IncUnited

States241,976,146 29,583,787 0.75 0.75

Kepler Weber SA Brazil 32,597,317 3,985,319 2.57 2.57

Keppel Telecommunications &

Transportation LtdSingapore 30,457,913 3,723,757 0.57 0.57

Kerjaya Prospek Group Bhd Malaysia 56,378,382 6,892,770 1.22 1.22

Kerry Logistics Network Ltd Hong Kong 111,871,579 13,677,319 0.57 0.57

Kerry TJ Logistics Co Ltd Taiwan 53,134,234 6,496,144 1.08 1.08

Keyence Corp Japan 6,630,618,934 810,653,528 1.19 1.19

Keysight Technologies IncUnited

States641,982,603 78,488,218 1.01 1.01

KEE TAI Properties Co Ltd Taiwan 12,569,731 1,536,764 1.03 1.03

KEMET CorpUnited

States11,447,704 1,399,586 0.16 0.16

KEPCO Engineering & Construction Co

IncSouth Korea 2,589,400 316,578 0.04 0.04

KEPCO Plant Service & Engineering

Co LtdSouth Korea 172,470,063 21,086,035 1.24 1.24

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017285

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kforce IncUnited

States8,195,467 1,001,971 0.15 0.15

Kginicis Co Ltd South Korea 24,379,856 2,980,659 0.63 0.63

KH Vatec Co Ltd South Korea 11,246,492 1,374,986 0.52 0.52

Kier Group PLCUnited

Kingdom287,869,144 35,194,624 2.45 2.45

Kimlun Corp Bhd Malaysia 18,573,332 2,270,759 1.29 1.29

Kimura Unity Co Ltd Japan 3,645,681 445,718 0.35 0.35

Kinden Corp Japan 534,848,641 65,390,116 1.84 1.84

Kingspan Group PLC Ireland 1,114,561,120 136,265,244 1.74 1.74

King Slide Works Co Ltd Taiwan 104,299,923 12,751,615 0.99 0.99

Kinik Co Taiwan 86,478,763 10,572,816 2.56 2.56

Kinki Sharyo Co Ltd/The Japan 1,616,266 197,603 0.1 0.1

Kintetsu World Express Inc Japan 135,572,073 16,574,920 1.11 1.11

Kirby CorpUnited

States260,526,827 31,851,776 0.8 0.8

Kitagawa Iron Works Co Ltd Japan 56,512,373 6,909,152 2.62 2.62

Kitano Construction Corp Japan 28,152,501 3,441,900 1.4 1.4

Kito Corp Japan 66,219,943 8,095,991 1.9 1.9

Kitz Corp Japan 274,644,225 33,577,757 3.92 3.92

KION Group AG Germany 1,100,430,038 134,537,590 1.32 1.32

KISWIRE Ltd South Korea 29,033,590 3,549,621 0.58 0.58

Klabin SA Brazil 354,238,291 43,308,856 0.17 0.17

Klil Industries Ltd Israel 21,882,636 2,675,351 1.22 1.22

Klimasan Klima Sanayi ve Ticaret AS Turkey 8,557,884 1,046,279 2.05 2.05

KLX IncUnited

States184,348,364 22,538,266 0.66 0.66

KMI Wire & Cable Tbk PT Indonesia 6,394,809 781,824 0.62 0.62

Knight-Swift Transportation Holdings IncUnited

States469,319,010 57,378,521 0.74 0.74

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017286

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Knowles CorpUnited

States7,466,391 912,834 0.07 0.07

Koa Corp Japan 195,672,178 23,922,705 2.86 2.86

Kobelco Eco-Solutions Co Ltd Japan 3,172,411 387,856 0.14 0.14

Koenig & Bauer AG Germany 121,791,132 14,890,075 1.11 1.11

Komatsu Ltd Japan 3,454,205,260 422,308,039 1.2 1.2

Komax Holding AG Switzerland 77,626,744 9,490,576 0.76 0.76

Komori Corp Japan 94,647,631 11,571,535 1.32 1.32

Konecranes OYJ Finland 801,785,284 98,025,550 2.54 2.54

Kone OYJ Finland 1,377,958,613 168,467,985 0.26 0.6

Koninklijke BAM Groep NV Netherlands 108,181,066 13,226,120 1.05 1.05

Koninklijke Volkerwessels NV Netherlands 34,089,675 4,167,773 0.18 0.18

Koninklijke Vopak NV Netherlands 533,131,525 65,180,182 1.16 1.16

Konoike Transport Co Ltd Japan 125,482,320 15,341,356 1.52 1.52

Korea Aerospace Industries Ltd South Korea 182,293,887 22,287,087 0.52 0.52

Korea Electric Terminal Co Ltd South Korea 87,182,266 10,658,826 1.64 1.64

Korea Export Packaging Industrial Co

LtdSouth Korea 4,154,022 507,867 0.87 0.87

Korn/Ferry InternationalUnited

States222,363,454 27,185,957 1.16 1.16

KONA I Co Ltd South Korea 7,686,598 939,757 0.52 0.52

Krones AG Germany 312,463,366 38,201,491 0.88 0.88

Krosaki Harima Corp Japan 75,945,716 9,285,055 2.42 2.42

KSB AG Germany 120,510,327 14,733,485 1.38

KSS LINE Ltd South Korea 44,655,429 5,459,533 2.78 2.78

Kubota Corp Japan 2,383,299,215 291,380,026 1.2 1.2

Kuehne Nagel International AG Switzerland 1,384,059,834 169,213,915 0.84 0.84

Kumagai Gumi Co Ltd Japan 71,016,578 8,682,423 0.66 0.66

Kumho Industrial Co Ltd South Korea 31,882,351 3,897,908 1.22 1.21

Kung Long Batteries Industrial Co Ltd Taiwan 7,730,645 945,142 0.24 0.24

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017287

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Kurita Water Industries Ltd Japan 480,557,807 58,752,567 1.56 1.56

Kyocera Corp Japan 2,188,656,750 267,583,213 1.08 1.08

Kyodo Printing Co Ltd Japan 28,926,327 3,536,507 1.22 1.22

Kyokuto Kaihatsu Kogyo Co Ltd Japan 134,250,685 16,413,368 2.18 2.18

Kyosan Electric Manufacturing Co Ltd Japan 130,038,229 15,898,357 3.9 3.9

Kyowa Exeo Corp Japan 267,099,786 32,655,380 1.07 1.07

Kyudenko Corp Japan 459,822,496 56,217,486 1.63 1.63

Kyung Dong Navien Co Ltd South Korea 37,821,896 4,624,071 0.76 0.76

L3 Technologies IncUnited

States1,134,383,379 138,688,695 0.9 0.9

LafargeHolcim Ltd Switzerland 6,153,585,668 752,331,868 2.2 2.2

Lagercrantz Group AB Sweden 581,810 71,132 0.01 0.01

Landis Group AG Switzerland 470,702,504 57,547,666 2.45 2.45

Landstar System IncUnited

States460,837,032 56,341,522 1.29 1.29

Land Mark Optoelectronics Corp Taiwan 49,669,627 6,072,564 0.52 0.52

Larsen & Toubro Ltd India 1,379,495,348 168,655,865 0.61 0.61

Lassila & Tikanoja OYJ Finland 26,482,991 3,237,787 0.38 0.38

Leaders Cosmetics Co Ltd South Korea 3,351,991 409,811 0.14 0.14

Legrand SA France 8,026,285,236 981,286,439 4.77 4.77

Lemminkainen OYJ Finland 76,041,647 9,296,784 1.46 1.46

Lennox International IncUnited

States811,947,405 99,267,962 1.14 1.14

Lens Technology Co Ltd China 86,917,706 10,626,481 0.09 0.09

Leonardo SpA Italy 956,040,032 116,884,597 1.7 1.7

Leoni AG Germany 816,128,357 99,779,121 4.08 4.08

Lextar Electronics Corp Taiwan 56,973,247 6,965,498 1.52 1.52

LEM Holding SA Switzerland 219,108,411 26,787,998 1.39 1.39

LG Corp South Korea 961,495,182 117,551,539 0.8 0.79

LG Hausys Ltd South Korea 108,321,321 13,243,268 1.63 1.46

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017288

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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LG Innotek Co Ltd South Korea 235,619,342 28,806,610 0.9 0.9

LG International Corp South Korea 112,923,858 13,805,970 1.4 1.4

Lifco AB Sweden 395,246,956 48,322,539 0.96 1.53

Lincoln Electric Holdings IncUnited

States432,537,773 52,881,680 0.88 0.88

Lindab International AB Sweden 177,826,312 21,740,886 3.32 3.32

Lingkaran Trans Kota Holdings Bhd Malaysia 19,171,056 2,343,836 0.32 0.32

Link Administration Holdings Ltd Australia 661,780,896 80,908,739 2.49 2.49

Link And Motivation Inc Japan 16,285,801 1,991,087 0.22 0.22

Lintec Corp Japan 226,915,166 27,742,445 1.3 1.3

Litalico Inc Japan 30,467,566 3,724,937 1.16 1.16

Lite-On Technology Corp Taiwan 305,529,026 37,353,705 1.17 1.17

Littelfuse IncUnited

States462,904,782 56,594,324 1.26 1.26

LIG Nex1 Co Ltd South Korea 35,977,483 4,398,575 0.36 0.36

LISI France 47,453,738 5,801,652 0.22 0.22

LIXIL Group Corp Japan 1,666,968,744 203,802,105 2.4 2.4

Lonking Holdings Ltd China 110,285,570 13,483,415 0.72 0.72

Loomis AB Sweden 806,977,258 98,660,316 2.17 3.06

Lotes Co Ltd Taiwan 81,560,695 9,971,537 1.57 1.57

Louisiana-Pacific CorpUnited

States511,389,649 62,522,040 1.64 1.64

LSC Communications IncUnited

States113,561,148 13,883,884 2.63 2.63

LSR Group PJSC Russia 529,745,908 64,766,260 4.55 4.55

LS Cable & System Asia Ltd South Korea 23,088,301 2,822,755 1.57 1.57

LS Corp South Korea 386,229,550 47,220,079 2.17 2.17

LS Industrial Systems Co Ltd South Korea 173,499,994 21,211,954 1.16 1.16

Luka Koper Slovenia 64,474,817 7,882,633 1.54 1.54

LU-VE SpA Italy 32,643,580 3,990,975 1.39 1.39

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017289

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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L&K Engineering Co Ltd Taiwan 8,700,342 1,063,696 0.43 0.43

Mabuchi Motor Co Ltd Japan 348,832,604 42,647,962 1.14 1.14

Macquarie Atlas Roads Group Australia 271,535,880 33,197,733 1.01 1.01

Macquarie Infrastructure CorpUnited

States215,607,193 26,359,942 0.49 0.49

MacroAsia Corp Philippines 53,514,945 6,542,689 1.16 1.16

Maeda Corp Japan 98,029,867 11,985,044 0.44 0.44

Maeda Kosen Co Ltd Japan 37,605,405 4,597,603 0.77 0.77

Maeda Road Construction Co Ltd Japan 249,068,643 30,450,909 1.41 1.41

Maezawa Kasei Industries Co Ltd Japan 18,769,535 2,294,746 1.32 1.32

Maezawa Kyuso Industries Co Ltd Japan 14,353,005 1,754,786 0.82 0.82

Magnesita Refratarios SA Brazil 78,058,260 9,543,333 1.26 1.26

Mahindra & Mahindra Ltd India 631,541,535 77,211,702 0.53 0.53

Mainfreight LtdNew

Zealand223,265,056 27,296,186 1.5 1.5

Makino Milling Machine Co Ltd Japan 158,733,552 19,406,622 1.6 1.6

Malaysian Resources Corp Bhd Malaysia 172,015,009 21,030,401 1.73 1.73

Malaysia Airports Holdings Bhd Malaysia 175,933,723 21,509,499 0.6 0.6

Management Consulting Group PLCUnited

Kingdom7,084,063 866,091 1.96 1.96

Mangata Holding SA Poland 11,834,259 1,446,846 0.75 0.75

Manitou BF SA France 216,624,459 26,484,312 1.83 1.83

ManpowerGroup IncUnited

States835,754,612 102,178,610 1.22 1.22

ManTech International Corp/VAUnited

States248,311,775 30,358,375 0.38 1.55

Manutan International France 2,550,663 311,842 0.04 0.04

Marcopolo SA Brazil 268,669,098 32,847,243 1.46 3.06

Martin Marietta Materials IncUnited

States936,022,492 114,437,271 0.82 0.82

Marubeni Corp Japan 1,214,552,003 148,490,039 1.18 1.18

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017290

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Maruwa Co Ltd/Aichi Japan 351,447,382 42,967,642 5.18 5.18

Maruwa Unyu Kikan Co Ltd Japan 98,934,046 12,095,588 1.17 1.17

Maruzen Showa Unyu Co Ltd Japan 46,953,606 5,740,506 1.3 1.3

Masco CorpUnited

States1,299,607,446 158,888,842 1.15 1.15

Masonite International CorpUnited

States360,004,953 44,013,883 2.08 2.08

MasTec IncUnited

States150,671,895 18,421,011 0.45 0.45

Materion CorpUnited

States216,547,462 26,474,899 2.72 2.72

Matsui Construction Co Ltd Japan 3,124,490 381,997 0.14 0.14

Maxar Technologies Ltd Canada 233,207,906 28,511,790 0.79 0.79

MaxiTRANS Industries Ltd Australia 14,597,814 1,784,716 1.58 1.58

Max Co Ltd Japan 90,798,929 11,100,996 1.57 1.57

Mayr Melnhof Karton AG Austria 397,664,419 48,618,095 1.65 1.65

MAN SE Germany 921,519,869 112,664,193 0.7 0.67

MAXIMUS IncUnited

States401,004,919 49,026,502 1.05 1.05

MAX Automation AG Germany 751,442 91,871 0.03 0.03

MB World Group Bhd Malaysia 8,084,359 988,386 1.27 1.27

McGrath RentCorpUnited

States218,455,143 26,708,130 2.37 2.37

MDU Resources Group IncUnited

States356,776,023 43,619,117 0.83 0.83

Megawide Construction Corp Philippines 187,833,999 22,964,416 2.98 2.98

Meggitt PLCUnited

Kingdom1,111,508,346 135,892,014 2.68 2.68

Meidensha Corp Japan 103,299,996 12,629,365 1.34 1.34

Meisei Industrial Co Ltd Japan 67,228,962 8,219,353 1.88 1.88

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017291

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Meitec Corp Japan 200,951,340 24,568,131 1.56 1.56

Melrose Industries PLCUnited

Kingdom1,314,442,727 160,702,590 2.88 2.88

Mercantile Ports and Logistics Ltd India 738,140 90,244 0.2 0.2

Mercor SA Poland 11,919,375 1,457,252 2.82 2.82

Meritor IncUnited

States155,707,537 19,036,664 0.92 0.92

Mersen SA France 327,324,000 40,018,339 3.14 4.36

Metallurgical Corp of China Ltd China 133,860,383 16,365,650 0.27 0.27

Methode Electronics IncUnited

States318,577,582 38,949,010 2.54 2.54

Metso OYJ Finland 383,182,153 46,847,507 0.91 0.91

Mettler-Toledo International IncUnited

States1,132,144,869 138,415,017 0.87 0.87

Meyer Burger Technology AG Switzerland 131,171,428 16,036,901 1.71 1.71

METAWATER Co Ltd Japan 15,095,602 1,845,575 0.27 0.27

MGI Digital Graphic Technology France 28,272,712 3,456,596 0.87 0.87

Midwich Group PLCUnited

Kingdom50,537,632 6,178,686 1.13 1.13

Mieco Chipboard BHD Malaysia 19,340,596 2,364,564 2.35 2.35

Mirait Holdings Corp Japan 355,522,838 43,465,904 3.42 3.42

Misr Cement Co Egypt 7,732,659 945,388 1.46 1.46

Mitani Corp Japan 12,590,317 1,539,281 0.09 0.09

Mitani Sekisan Co Ltd Japan 41,518,104 5,075,966 0.84 0.84

Mitie Group PLCUnited

Kingdom174,484,204 21,332,282 2.23 2.23

Mitsubishi Corp Japan 4,203,662,216 513,935,975 1.17 1.17

Mitsubishi Electric Corp Japan 3,617,535,837 442,276,689 1.24 1.24

Mitsubishi Heavy Industries Ltd Japan 751,507,871 91,878,679 0.73 0.73

Mitsubishi Kakoki Kaisha Ltd Japan 4,367,003 533,906 0.31 0.31

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017292

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Mitsubishi Logisnext Co Ltd Japan 182,991,579 22,372,386 3.3 2.32

Mitsubishi Logistics Corp Japan 13,118,495 1,603,855 0.07 0.07

Mitsubishi Materials Corp Japan 610,589,071 74,650,073 1.59 1.59

Mitsuboshi Belting Ltd Japan 162,752,288 19,897,949 2.22 2.22

Mitsui Engineering & Shipbuilding Co

LtdJapan 40,294,239 4,926,338 0.4 0.4

Mitsui OSK Lines Ltd Japan 208,131,771 25,446,004 0.63 0.63

Mitsui & Co Ltd Japan 3,054,963,832 373,497,140 1.28 1.28

Mitsui-Soko Holdings Co Ltd Japan 32,818,325 4,012,339 0.94 0.94

Miura Co Ltd Japan 348,222,039 42,573,314 1.26 1.26

MiX Telematics Ltd South Africa 101,519,535 12,411,687 3.98 3.98

MINEBEA MITSUMI Inc Japan 1,100,019,161 134,487,357 1.5 1.5

MISUMI Group Inc Japan 678,291,949 82,927,366 1.01 1.01

ML Global Bhd Malaysia 17,886,644 2,186,805 1.02 1.02

MMA Offshore Ltd Australia 15,868,696 1,940,093 1.03 1.03

MMS Ventures Bhd Malaysia 11,215,095 1,371,148 1.98 1.98

Mobile Mini IncUnited

States63,274,073 7,735,832 0.51 0.51

Momentum Group AB Sweden 4,100,559 501,331 0.09 0.12

Monadelphous Group Ltd Australia 252,059,363 30,816,552 2.41 2.41

MonotaRO Co Ltd Japan 36,045,774 4,406,924 0.11 0.11

Moog IncUnited

States409,532,790 50,069,112 0.87 1.61

Morgan Advanced Materials PLCUnited

Kingdom281,204,206 34,379,774 2.64 2.64

Morita Holdings Corp Japan 83,962,256 10,265,150 1.16 1.16

Mostostal Warszawa SA Poland 3,708,180 453,359 1.7 1.7

Mota-Engil SGPS SA Portugal 140,968,248 17,234,652 1.59 1.59

Mpact Ltd South Africa 71,842,671 8,783,421 2.6 2.6

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017293

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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MSA Safety IncUnited

States343,870,868 42,041,344 1.43 1.43

MSC Industrial Direct Co IncUnited

States494,768,265 60,489,925 0.39 1.11

MTS Systems CorpUnited

States103,167,039 12,613,110 1.32 1.32

MTU Aero Engines AG Germany 1,182,139,397 144,527,303 1.55 1.55

Mueller Industries IncUnited

States293,974,654 35,941,078 1.75 1.75

Mueller Water Products IncUnited

States478,858,890 58,544,859 2.95 2.95

Muhibbah Engineering M Bhd Malaysia 20,182,055 2,467,440 0.73 0.73

Mullen Group Ltd Canada 174,448,136 21,327,873 1.64 1.64

Munters Group AB Sweden 220,329,345 26,937,268 2.17 2.17

Murata Manufacturing Co Ltd Japan 2,773,496,129 339,085,151 1.12 1.12

Mycronic AB Sweden 113,437,874 13,868,813 1.36 1.36

Myers Industries IncUnited

States78,866,004 9,642,087 1.62 1.62

My EG Services Bhd Malaysia 380,254,743 46,489,604 2.34 2.34

MYR Group IncUnited

States144,469,086 17,662,661 3 3

MYS Group Co Ltd China 8,352,534 1,021,173 0.06 0.06

Nabtesco Corp Japan 367,588,474 44,941,037 0.94 0.94

Nachi-Fujikoshi Corp Japan 84,588,635 10,341,731 0.62 0.62

Nakano Refrigerators Co Ltd Japan 573,753 70,146 0.02 0.02

Namura Shipbuilding Co Ltd Japan 40,220,361 4,917,305 1.15 1.15

Namyong Terminal PCL Thailand 77,361,584 9,458,158 4.21 4.21

Nanjing Kangni Mechanical & Electrical

Co LtdChina 51,907,404 6,346,153 0.34 0.34

Nanjing Sample Technology Co Ltd China 37,541,744 4,589,820 0.57 0.57

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017294

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nan Ya Printed Circuit Board Corp Taiwan 61,359,177 7,501,718 1.32 1.32

National Instruments CorpUnited

States332,760,162 40,682,959 0.75 0.75

Navigant Consulting IncUnited

States202,534,182 24,761,648 2.78 2.78

Navistar International CorpUnited

States26,642,192 3,257,251 0.08 0.08

NBCC India Ltd India 9,489,625 1,160,193 0.03 0.03

NCC AB Sweden 351,799,791 43,010,727 0.92 1.99

NCC Ltd/India India 425,717,022 52,047,782 4.47 4.47

NCI Building Systems IncUnited

States151,789,788 18,557,683 1.46 1.46

NDS Co Ltd Japan 14,220,524 1,738,589 0.72 0.72

Nets A/S Denmark 713,783,604 87,266,544 1.65 1.65

New Flyer Industries Inc Canada 364,161,348 44,522,040 1.64 1.64

Nexans SA France 356,158,124 43,543,573 1.63 1.63

NEWAG SA Poland 61,252,154 7,488,633 3.82 3.82

NGK Insulators Ltd Japan 506,842,360 61,966,093 1 1

Nibe Industrier AB Sweden 982,501,809 120,119,791 1.21 2.48

Nice D&B Co Ltd South Korea 3,036,146 371,197 0.32 0.32

Nice Holdings Inc Japan 11,603,110 1,418,586 1.07 1.07

Nichias Corp Japan 692,493,159 84,663,593 4.69 4.69

Nichicon Corp Japan 143,135,898 17,499,667 1.71 1.71

Nichiden Corp Japan 47,178,925 5,768,053 0.88 0.88

Nichiha Corp Japan 495,503,594 60,579,825 3.87 3.87

NichiiGakkan Co Ltd Japan 74,266,986 9,079,815 0.97 0.97

Nichireki Co Ltd Japan 18,264,092 2,232,952 0.55 0.55

Nidec Corp Japan 3,772,880,454 461,268,983 1.1 1.1

Nihon Dempa Kogyo Co Ltd Japan 12,800,868 1,565,023 1.08 1.08

Nihon Dengi Co Ltd Japan 985,116 120,439 0.05 0.05

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017295

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nihon Yamamura Glass Co Ltd Japan 24,781,274 3,029,736 1.6 1.6

Nikkon Holdings Co Ltd Japan 153,188,548 18,728,695 0.97 0.97

Nikko Co Ltd/Hyogo Japan 2,453,878 300,009 0.18 0.18

Nilfisk Holding A/S Denmark 387,342,522 47,356,150 2.98 2.98

Ningbo Ligong Environment And Energy

Technology Co LtdChina 42,500,240 5,196,041 0.45 0.45

Nippon Carbon Co Ltd Japan 3,276,314 400,559 0.08 0.08

Nippon Ceramic Co Ltd Japan 210,543,767 25,740,892 3.68 3.68

Nippon Chemi-Con Corp Japan 90,218,736 11,030,062 2.17 2.17

Nippon Densetsu Kogyo Co Ltd Japan 66,110,500 8,082,611 0.61 0.61

Nippon Electric Glass Co Ltd Japan 484,650,137 59,252,891 1.56 1.56

Nippon Express Co Ltd Japan 873,214,275 106,758,395 1.61 1.61

Nippon Koei Co Ltd Japan 191,563,058 23,420,328 4.74 4.74

Nippon Parking Development Co Ltd Japan 5,952,737 727,776 0.12 0.12

Nippon Pillar Packing Co Ltd Japan 16,792,572 2,053,045 0.53 0.53

Nippon Road Co Ltd/The Japan 76,941,216 9,406,764 1.65 1.65

Nippon Sharyo Ltd Japan 1,944,529 237,736 0.05 0.05

Nippon Sheet Glass Co Ltd Japan 27,377,422 3,347,139 0.41 0.41

Nippon Signal Company Ltd Japan 61,444,234 7,512,117 1.03 1.03

Nippon Thompson Co Ltd Japan 50,177,352 6,134,638 1.04 1.04

Nippon Yusen KK Japan 114,786,640 14,033,712 0.34 0.34

Nippo Corp Japan 281,841,878 34,457,735 1.23 1.23

Nishimatsu Construction Co Ltd Japan 183,253,768 22,404,441 1.44 1.44

Nishio Rent All Co Ltd Japan 179,804,544 21,982,742 2.5 2.5

Nissei ASB Machine Co Ltd Japan 44,924,489 5,492,428 0.59 0.59

Nissei Build Kogyo Co Ltd Japan 56,585,853 6,918,136 1.48 1.48

Nissei Plastic Industrial Co Ltd Japan 5,573,445 681,404 0.2 0.2

Nissha Co Ltd Japan 91,975,826 11,244,882 0.76 0.76

Nissin Corp Japan 80,398,035 9,829,392 1.72 1.72

Nissin Electric Co Ltd Japan 79,721,432 9,746,671 0.78 0.78

Nitta Corp Japan 96,742,140 11,827,607 1.01 1.01

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017296

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nittoc Construction Co Ltd Japan 11,280,343 1,379,125 0.5 0.5

Nittoku Engineering Co Ltd Japan 158,270,104 19,349,961 2.52 2.52

Nitto Boseki Co Ltd Japan 174,293,122 21,308,921 1.85 1.85

Nitto Kogyo Corp Japan 93,244,522 11,399,992 1.65 1.65

Nitto Kohki Co Ltd Japan 62,704,943 7,666,250 1.39 1.39

NIIT Ltd India 65,419,162 7,998,088 2.98 2.98

NKT A/S Denmark 281,733,238 34,444,453 2.78 2.78

NN IncUnited

States109,667,799 13,407,887 1.76 1.76

Nobina AB Sweden 6,708,216 820,140 0.11 0.11

Nohmi Bosai Ltd Japan 65,190,071 7,970,080 0.72 0.72

Nomura Co Ltd Japan 102,548,919 12,537,539 0.92 0.92

Norbord Inc Canada 374,099,736 45,737,098 1.56 1.56

Nordic American Tankers LtdUnited

States114,510 14,000 0

Nordic Waterproofing Holding AS Sweden 28,623,103 3,499,435 1.69 1.69

Nordson CorpUnited

States589,687,621 72,094,680 0.85 0.85

Norfolk Southern CorpUnited

States2,934,613,919 358,783,268 0.87 0.87

Noritz Corp Japan 101,558,190 12,416,413 1.25 1.25

Noroo Holdings Co Ltd South Korea 3,970,987 485,489 0.24 0.24

Northgate PLCUnited

Kingdom272,720,134 33,342,519 4.85 4.85

Novorossiysk Commercial Sea Port

PJSCRussia 117,553,996 14,372,046 0.55 0.55

NRW Holdings Ltd Australia 14,011,736 1,713,062 0.38 0.38

NS United Kaiun Kaisha Ltd Japan 57,321,667 7,008,096 1.2 1.2

NTN Corp Japan 448,419,929 54,823,419 2.07 2.07

NWF Group PLCUnited

Kingdom11,955,909 1,461,719 1.36 1.36

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017297

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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NWS Holdings Ltd Hong Kong 366,283,717 44,781,519 0.64 0.64

Obara Group Inc Japan 230,118,182 28,134,043 1.96 1.96

Obayashi Corp Japan 1,229,227,634 150,284,269 1.72 1.72

Obrascon Huarte Lain SA Spain 118,290,464 14,462,086 0.81 0.81

OC Oerlikon Corp AG Switzerland 705,026,767 86,195,941 1.5 1.5

Oesterreichische Post AG Austria 531,558,835 64,987,907 2.14 2.14

OFX Group Ltd Australia 47,557,209 5,814,302 2.13 2.13

Oiles Corp Japan 100,381,927 12,272,604 1.79 1.79

Okabe Co Ltd Japan 87,900,426 10,746,627 2.09 2.09

Okumura Corp Japan 154,840,864 18,930,705 1.01 1.01

OKUMA Corp Japan 100,501,228 12,287,190 0.55 0.55

Old Dominion Freight Line IncUnited

States721,908,782 88,259,921 0.81 0.81

Omron Corp Japan 1,863,378,402 227,814,973 1.78 1.78

Onex Corp Canada 417,461,227 51,038,435 0.27 0.68

Onoken Co Ltd Japan 51,719,543 6,323,185 1.65 1.65

On Assignment IncUnited

States439,493,636 53,732,098 1.61 1.61

Optex Group Co Ltd Japan 209,314,026 25,590,545 2.77 2.77

Orascom Construction Ltd Egypt 194,711,588 23,805,264 2.52 2.52

Orbotech LtdUnited

States572,266,807 69,964,827 2.91 2.91

Organizacion Cultiba SAB de CV Mexico 155,081,091 18,960,075 3.32 3.32

Organo Corp Japan 60,337,608 7,376,822 2.18 2.18

Org Packaging Co Ltd China 21,980,512 2,687,318 0.12 0.12

Orient Cement Ltd India 93,960,237 11,487,494 2.09 2.09

Orient Overseas International Ltd Hong Kong 205,632,183 25,140,406 0.42 0.42

Origin Electric Co Ltd Japan 7,250,977 886,498 0.85 0.85

Orora Ltd Australia 327,181,397 40,000,904 1.25 1.25

Orzel Bialy SA Poland 8,827,145 1,079,199 1.8 1.8

Osaki Electric Co Ltd Japan 111,937,215 13,685,344 3.84 3.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017298

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Oshkosh CorpUnited

States693,872,847 84,832,272 1.24 1.24

OSG Corp Japan 133,440,519 16,314,318 0.77 0.77

OSI Systems IncUnited

States165,332,380 20,213,389 1.66 1.66

OSJB Holdings Corp Japan 10,714,926 1,309,997 0.36 0.36

Otokar Otomotiv Ve Savunma Sanayi

A.S.Turkey 26,441,301 3,232,690 0.41 0.41

Outotec OYJ Finland 3,785,538 462,817 0.03 0.03

Outsourcing Inc Japan 229,821,504 28,097,771 1.51 1.51

Owens CorningUnited

States962,290,830 117,648,814 1.15 1.15

Owens-Illinois IncUnited

States268,253,527 32,796,436 0.91 0.91

Oxford Instruments PLCUnited

Kingdom157,501,231 19,255,959 2.92 2.92

Oyo Corp Japan 33,488,037 4,094,217 1.11 1.11

Ozner Water International Holding Ltd China 62,077,000 7,589,478 1.16 1.16

Pacific Basin Shipping Ltd Hong Kong 215,435,475 26,338,948 2.74 2.74

Packaging Corp of AmericaUnited

States1,041,060,315 127,279,101 1.12 1.12

Pack Corp/The Japan 43,106,517 5,270,164 0.82 0.82

Pact Group Holdings Ltd Australia 160,825,041 19,662,325 1.33 1.33

Pagegroup PLCUnited

Kingdom417,181,888 51,004,284 2.47 2.47

Palfinger AG Austria 171,720,172 20,994,354 1.37 1.37

Panalpina Welttransport Holding AG Switzerland 535,138,900 65,425,602 1.78 1.78

Panariagroup Industrie Ceramiche SpA Italy 18,675,523 2,283,253 0.72 0.72

Pan Ocean Co Ltd South Korea 79,325,168 9,698,224 0.37 0.37

Pan-International Industrial Corp Taiwan 27,588,343 3,372,926 0.76 0.76

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017299

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Parker-Hannifin CorpUnited

States5,582,394,408 682,498,537 2.57 2.57

Partron Co Ltd South Korea 70,521,816 8,621,934 1.81 1.81

Pasona Group Inc Japan 17,502,269 2,139,812 0.25 0.25

Patrick Industries IncUnited

States11,680,365 1,428,031 0.08 0.08

Paychex IncUnited

States1,489,795,215 182,141,028 0.74 0.74

PayPal Holdings IncUnited

States5,719,223,610 699,227,153 0.79 0.79

PayPoint PLCUnited

Kingdom114,850,279 14,041,492 1.67 1.67

PACCAR IncUnited

States2,429,063,728 296,975,154 1.19 1.19

PBG SA Poland 4,790,665 585,702 0.36 0.36

Peab AB Sweden 518,469,921 63,387,668 1.21 2.47

Pelayaran Tempuran Emas Tbk PT Indonesia 7,963,463 973,606 1.01 1.01

Pentair PLCUnited

States1,048,923,211 128,240,412 1 1

Pentamaster Corp Bhd Malaysia 30,714,944 3,755,182 1.58 1.58

Penta-Ocean Construction Co Ltd Japan 304,669,126 37,248,574 1.75 1.75

PerkinElmer IncUnited

States505,868,992 61,847,090 0.77 0.77

Persol Holdings Co Ltd Japan 703,678,443 86,031,096 1.45 1.45

Pesona Metro Holdings Bhd Malaysia 8,612,146 1,052,913 1.36 1.36

Petrovietnam Transportation Corp Vietnam 38,563,752 4,714,770 2.02 2.02

PESTECH International Bhd Malaysia 46,391,487 5,671,782 1.72 1.72

Pfeiffer Vacuum Technology AG Germany 534,946,594 65,402,091 3.51 3.51

PGO SA Poland 22,133,324 2,706,000 1.95 1.95

Phihong Technology Co Ltd Taiwan 12,720,303 1,555,173 0.97 0.97

Philips Lighting NV Netherlands 934,280,786 114,224,331 2.17 2.17

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017300

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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PHH CorpUnited

States73,927,010 9,038,250 2.7 2.7

Piraeus Port Authority SA Greece 1,707,646 208,775 0.04 0.04

Piramal Glass Ceylon PLC Sri Lanka 8,594,408 1,050,745 2.93 2.93

PKP Cargo SA Poland 68,373,006 8,359,222 1.18 1.18

Plasson Industries Ltd Israel 5,509,820 673,626 0.14 0.14

Plexus CorpUnited

States297,420,918 36,362,415 1.78 1.78

Polypipe Group plcUnited

Kingdom448,203,438 54,796,951 5.16 5.16

Ponsse Oyj Finland 249,511 30,505 0

Porr Ag Austria 1,174,963 143,650 0.01 0.01

Posco Daewoo Corp South Korea 139 17 0

PostNL NV Netherlands 496,717,832 60,728,277 2.74 2.74

Pos Malaysia BHD Malaysia 107,567,244 13,151,075 1.3 1.3

Powercom Co Ltd Taiwan 1,827,128 223,383 1.42 1.42

Power Construction JSC No.1 Vietnam 36,147,665 4,419,381 2.25 2.25

Poznanska Korporacja Budowlana

Pekabex SAPoland 12,049,029 1,473,103 2.11 2.11

POSCO Chemtech Co Ltd South Korea 196,994,560 24,084,378 1.1 1.1

PPC Ltd South Africa 66,682,192 8,152,505 0.91 0.91

PP Persero Tbk PT Indonesia 382,147,267 46,720,982 3.87 3.87

Primoris Services CorpUnited

States175,833,143 21,497,203 1.54 1.54

Prodways Group SA France 19,380,453 2,369,437 0.82 0.82

Promotora Ambiental SAB de CV Mexico 33,312,849 4,072,799 2.38 2.38

Promotora y Operadora de

Infraestructura SAB de CV

Mexico 1,416,387,252 173,166,236 4.37 4.37

Pronexus Inc Japan 53,253,702 6,510,750 1.39 1.39

Prosegur Cash SA Spain 348,476,696 42,604,449 0.88 0.88

Prosegur Cia de Seguridad SA Spain 298,351,597 36,476,199 0.75 0.75

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017301

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Proto Labs IncUnited

States318,003,247 38,878,792 1.42 1.42

Prysmian SpA Italy 2,380,928,115 291,090,137 4.1 4.1

PSB Industries SA France 11,960,750 1,462,311 0.63 0.74

PWR Holdings Ltd Australia 10,731,690 1,312,047 0.67 0.67

Pylon PCL Thailand 37,386,895 4,570,888 2.47 2.47

Qatar Gas Transport Co Ltd Qatar 245,324 29,993 0

Qatar Navigation QSC Qatar 1,033,175 126,315 0.01 0.01

QinetiQ Group PLCUnited

Kingdom510,387,714 62,399,544 3.52 3.52

Qingling Motors Co Ltd China 23,354,104 2,855,252 0.36 0.36

Quad/Graphics IncUnited

States69,664,743 8,517,149 0.21 0.73

Quanex Building Products CorpUnited

States117,802,236 14,402,396 1.77 1.77

Quanta Services IncUnited

States642,704,274 78,576,449 1.29 1.29

Qube Holdings Ltd Australia 107,013,372 13,083,359 0.4 0.4

Quebecor Inc Canada 284,189,196 34,744,716 0.2 0.77

Quess Corp Ltd India 95,872,405 11,721,274 0.47 0.47

Quick Co Ltd Japan 5,267,908 644,050 0.21 0.21

Quinenco SA Chile 30,119,601 3,682,395 0.06 0.06

Raba Jarmuipari Holding Nyilvanosan

Mukodo ReszvenytarsasagHungary 6,032,299 737,503 1.15 1.15

Radiant Opto-Electronics Corp Taiwan 216,376,383 26,453,983 2.39 2.39

Raito Kogyo Co Ltd Japan 163,754,503 20,020,479 3.02 3.02

Ramco Cements Ltd/The India 47,750,448 5,837,927 0.2 0.2

Ramirent OYJ Finland 240,725,651 29,430,902 2.89 2.89

Randon SA Implementos e

Participacoes

Brazil 116,277,566 14,215,991 1.9

Randstad Holding NV Netherlands 1,296,186,716 158,470,626 1.41 1.41

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017302

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Rational AG Germany 413,710,868 50,579,920 0.69 0.69

Raubex Group Ltd South Africa 24,096,745 2,946,046 1.01 1.01

Raven Industries IncUnited

States220,630,268 26,974,059 2.2 2.2

Raya Contact Center SAE Egypt 21,237,703 2,596,503 3.22 3.22

Raytheon CoUnited

States4,285,589,630 523,952,347 0.96 0.96

RADCOM Ltd Israel 19,186,905 2,345,774 0.9 0.9

RBC Bearings IncUnited

States79,092,077 9,669,726 0.32 0.32

RCR Tomlinson Ltd Australia 74,938,247 9,161,883 1.77 1.77

Rechi Precision Co Ltd Taiwan 61,963,528 7,575,605 1.61 1.61

Recruit Holdings Co Ltd Japan 3,152,513,962 385,423,531 0.91 0.91

Regal Beloit CorpUnited

States491,234,151 60,057,847 1.77 1.77

Reliance Worldwide Corp Ltd Australia 39,683,589 4,851,680 0.3 0.3

Relpol SA Poland 5,115,733 625,445 2.98 2.98

Remgro Ltd South Africa 612,145,234 74,840,328 0.74 0.7

Renewi PLCUnited

Kingdom146,871,668 17,956,398 1.61 1.61

Rengo Co Ltd Japan 396,145,834 48,432,435 2.45 2.45

Renishaw PLCUnited

Kingdom476,446,496 58,249,922 1.13 1.13

Rentokil Initial PLCUnited

Kingdom1,421,233,570 173,758,742 2.2 2.2

Republic Services IncUnited

States1,354,061,930 165,546,398 0.73 0.73

Resources Connection IncUnited

States32,684,332 3,995,957 0.82 0.82

Reunert Ltd South Africa 8,191,308 1,001,462 0.09 0.09

Rexel SA France 938,262,121 114,711,086 2.08 2.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017303

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Rexnord CorpUnited

States508,815,189 62,207,289 2.3 2.3

Rheon Automatic Machinery Co Ltd Japan 42,538,515 5,200,721 1.05 1.05

Rhi Magnesita NVUnited

Kingdom475,659,457 58,153,699 2.48 2.48

Ricardo PLCUnited

Kingdom98 12 0

Rich Development Co Ltd Taiwan 27,509,686 3,363,310 1.35 1.35

Rieter Holding AG Switzerland 318,339,424 38,919,893 3.36 3.36

Riken Keiki Co Ltd Japan 3,733,574 456,463 0.08 0.08

Ritchie Bros Auctioneers Inc Canada 391,486,160 47,862,747 1.49 1.49

Ritek Corp Taiwan 49,672,863 6,072,960 2.2 2.2

Robert Half International IncUnited

States746,265,733 91,237,780 1.31 1.31

Robert Walters PLCUnited

Kingdom36,514,841 4,464,272 0.74 0.74

Robit Oyj Finland 4,353,274 532,227 0.32 0.32

Rockwell Automation IncUnited

States2,209,695,673 270,155,412 1.07 1.07

Rockwell Collins IncUnited

States2,049,327,956 250,548,999 1.13 1.13

Rockwool International A/S Denmark 801,776,268 98,024,448 0.28 1.57

Rogers CorpUnited

States455,841,384 55,730,759 1.89 1.89

Rohas Tecnic Bhd Malaysia 27,891,038 3,409,933 1.95 1.95

Rolls-Royce Holdings PLCUnited

Kingdom1,363,183,003 166,661,532 0.79 0.79

Roper Technologies IncUnited

States1,858,814,216 227,256,960 0.86 0.86

Rorze Corp Japan 6,629,158 810,475 0.19 0.19

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017304

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Rotork PLCUnited

Kingdom403,375,696 49,316,351 1.57 1.57

Royal Mail PLC United

Kingdom

1,310,357,070 160,203,081 2.62 2.62

RPC Group PLCUnited

Kingdom457,428,925 55,924,850 1.14 1.14

RPS Group PLCUnited

Kingdom249,480,838 30,501,304 3.68 3.68

RPX CorpUnited

States33,243,742 4,064,350 0.61 0.61

RR Donnelley & Sons CoUnited

States100,517,032 12,289,122 1.89 1.89

RS Technologies Co Ltd Japan 96,782,946 11,832,596 2 2

Rukun Raharja Tbk PT Indonesia 20,877,773 2,552,498 2.83 2.83

Rumo SA Brazil 380,907,875 46,569,455 0.76 0.76

Ryder System IncUnited

States561,965,889 68,705,446 1.54 1.54

Saab AB Sweden 1,001,048,351 122,387,274 1.99 2.3

Sabaf SpA Italy 56,721,027 6,934,662 2.51 2.51

Sacyr SA Spain 156,796,943 19,169,854 1.27 1.27

Saia IncUnited

States252,874,946 30,916,264 1.71 1.71

Sakai Heavy Industries Ltd Japan 5,738,397 701,571 0.42 0.42

Sakai Moving Service Co Ltd Japan 102,638,315 12,548,468 1.2 1.2

Salini Impregilo SpA Italy 125,942,066 15,397,564 0.81 0.81

Samsung C&T Corp South Korea 1,037,788,072 126,879,039 0.57 0.56

Samsung Electro-Mechanics Co Ltd South Korea 514,449,396 62,896,122 0.9 0.87

Samsung Engineering Co Ltd South Korea 133,151,420 16,278,973 0.72 0.72

Samsung Heavy Industries Co Ltd South Korea 97,034,334 11,863,331 0.44 0.44

Samsung SDI Co Ltd South Korea 859,086,750 105,031,176 0.8 0.78

Sam Kwang Glass Co Ltd South Korea 17,642,347 2,156,938 1.09 1.09

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017305

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sam Young Electronics Co Ltd South Korea 26,118,566 3,193,232 1.31 1.31

Sandvik AB Sweden 1,523,289,199 186,235,972 0.85 0.85

Sanki Engineering Co Ltd Japan 101,298,295 12,384,639 1.6 1.6

Sankyo Tateyama Inc Japan 89,926,523 10,994,336 2.3 2.3

Sankyu Inc Japan 257,441,640 31,474,584 1.12 1.12

Sanmina CorpUnited

States301,416,155 36,850,869 1.55 1.55

Sanok Rubber Co SA Poland 139,881,422 17,101,777 4.84 4.84

Sanshin Electronics Co Ltd Japan 68,011,914 8,315,076 1.66 1.66

Santa Fe Group A/S Denmark 11,677,579 1,427,690 1.61 1.61

Santos Brasil Participacoes SA Brazil 31,257,897 3,821,563 0.56 0.56

Sanwa Holdings Corp Japan 522,660,175 63,899,965 1.97 1.97

Sanyo Denki Co Ltd Japan 211,790,340 25,893,297 2.78 2.78

Sany Heavy Industry Co Ltd China 320,718,522 39,210,759 0.37 0.37

SaraminHR Co Ltd South Korea 17,483,803 2,137,554 0.92 0.92

Sarine Technologies Ltd Singapore 11,031,473 1,348,698 0.51 0.51

Sartorius AG Germany 374,004,294 45,725,430 0.65

Saudi Vitrified Clay Pipe Co LtdSaudi

Arabia45,105,372 5,514,542 2.41

SAES Getters SpA Italy 104,391,841 12,762,853 2.55 2.21

SAMHWA Paints Industrial Co Ltd South Korea 2,407,610 294,352 0.16 0.16

SATS Ltd Singapore 378,783,471 46,309,728 1.06 1.06

SBS Holdings Inc Japan 68,567,202 8,382,965 2.1 2.1

Schaffner Holding AG Switzerland 2,619 320 0

Schaltbau Holding AG Germany 192,592 23,546 0.01 0.01

Schindler Holding AG Switzerland 2,187,577,839 267,451,306 1.02 1.09

Schneider Electric SE France 10,066,922,323 1,230,772,900 2.31 2.42

Schneider National IncUnited

States256,962,460 31,416,000 0.12 0.62

Schnitzer Steel Industries IncUnited

States200,178,627 24,473,659 2.52 2.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017306

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Schouw & Co A/S Denmark 549,998,235 67,242,291 2.78 2.78

Schweiter Technologies AG Switzerland 378,441,981 46,267,977 2.49 2.49

Scicom MSC Bhd Malaysia 15,199,306 1,858,254 1.26 1.26

Scientex BHD Malaysia 115,050,082 14,065,920 1.36 1.36

Scorpio Bulkers IncUnited

States19,792,391 2,419,800 0.43 0.43

SCGM Bhd Malaysia 23,013,129 2,813,565 2.24 2.24

Sealed Air CorpUnited

States1,014,270,860 124,003,846 1.39 1.39

Sebang Co Ltd South Korea 21,145,879 2,585,276 1.14 0.96

Seche Environnement SA France 1,287,726 157,436 0.04 0.06

Secom Co Ltd Japan 1,393,708,743 170,393,582 0.97 0.97

Securitas AB Sweden 490,902,375 60,017,284 0.66 0.94

Seika Corp Japan 55,623,935 6,800,532 1.92 1.92

Seikitokyu Kogyo Co Ltd Japan 9,751,419 1,192,200 0.51 0.51

Seino Holdings Co Ltd Japan 245,758,856 30,046,258 0.91 0.91

Sekisui Jushi Corp Japan 125,708,089 15,368,958 1.59 1.59

Semcon AB Sweden 16,693,440 2,040,925 1.93 1.93

Semen Indonesia Persero Tbk PT Indonesia 316,588,094 38,705,777 0.89 0.89

Semperit AG Holding Austria 54,039,717 6,606,847 1.21 1.21

Senior PLCUnited

Kingdom441,019,403 53,918,637 3.65 3.65

Senko Group Holdings Co Ltd Japan 110,676,906 13,531,259 1.23 1.23

Sensata Technologies Holding NVUnited

States682,570,568 83,450,466 0.95 0.95

Serneke Group AB Sweden 4,583,686 560,397 0.07 0.22

ServiceSource International IncUnited

States13,424,058 1,641,213 0.59 0.59

SEEK Ltd Australia 417,830,245 51,083,551 0.98 0.98

SFA Engineering Corp South Korea 61,340,657 7,499,454 0.58 0.58

SFS Group AG Switzerland 519,083,985 63,462,743 1.44 1.44

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017307

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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SGL Carbon SE Germany 7,449,192 910,732 0.05 0.05

SGS SA Switzerland 1,865,224,983 228,040,735 1.15 1.15

SG Holdings Co Ltd Japan 518,773,354 63,424,765 0.97 0.97

Shanghai Diesel Engine Co Ltd China 7,024,954 858,865 0.13 0.13

Shanghai Electric Group Co Ltd China 95,353,142 11,657,790 0.19 0.19

Shanghai International Airport Co Ltd China 667,889,545 81,655,577 0.61 0.61

Shanghai Jinjiang International Industrial

Investment Co LtdChina 23,862,985 2,917,467 0.4 0.4

Shanghai Mechanical and Electrical

Industry Co LtdChina 80,694,593 9,865,649 0.44 0.44

Shanghai Shibei Hi-Tech Co Ltd China 7,727,542 944,762 0.09 0.09

Shanghai Tunnel Engineering Co Ltd China 62,772,090 7,674,459 0.19 0.19

Shanghai Waigaoqiao Free Trade Zone

Group Co LtdChina 12,218,801 1,493,860 0.09 0.09

Shanghai Zhenhua Heavy Industries Co

LtdChina 26,772,817 3,273,221 0.13 0.13

Shang Gong Group Co Ltd China 13,579,640 1,660,235 0.32 0.32

Shenzhen Chiwan Wharf Holdings Ltd China 38,300,731 4,682,613 0.43 0.43

Shenzhen Expressway Co Ltd China 117,622,093 14,380,372 0.65 0.65

Shenzhen Inovance Technology Co Ltd China 961,069,736 117,499,524 1.58 1.58

Shenzhen International Holdings Ltd China 116,269,629 14,215,021 0.37 0.37

Shenzhen Sunlord Electronics Co Ltd China 52,623,167 6,433,661 0.31 0.31

Sherwin-Williams Co/TheUnited

States2,118,560,003 259,013,247 0.68 0.68

Shibaura Electronics Co Ltd Japan 54,763,960 6,695,393 1.9 1.9

Shibusawa Warehouse Co Ltd/The Japan 21,544,284 2,633,985 0.96 0.96

Shibuya Corp Japan 226,777,900 27,725,663 2.38 2.38

Shimadzu Corp Japan 494,356,198 60,439,546 0.9 0.9

Shima Seiki Manufacturing Ltd Japan 147,285,512 18,006,995 0.78 0.78

Shimizu Corp Japan 1,084,157,316 132,548,102 1.63 1.63

Shimojima Co Ltd Japan 4,899,797 599,045 0.22 0.22

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017308

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Shinko Plantech Co Ltd Japan 54,535,388 6,667,448 1.36 1.36

Shinmaywa Industries Ltd Japan 182,835,543 22,353,310 2.34 2.34

Shinnihon Corp Japan 31,671,982 3,872,188 0.72 0.72

Shinwa Co Ltd/Nagoya Japan 32,461,988 3,968,774 1.14 1.14

Shin Nippon Air Technologies Co Ltd Japan 6,063,872 741,363 0.22 0.22

Shin Zu Shing Co Ltd Taiwan 22,964,517 2,807,621 0.62 0.62

Shipping Corp of India Ltd India 18,707,141 2,287,118 0.33 0.33

Ship Finance International LtdUnited

States14,483,719 1,770,767 0.12 0.12

Shizuki Electric Co Inc Japan 3,681,688 450,120 0.16 0.16

Shopify Inc United

States330,378,825 40,391,819 0.18 0.4

Showa Aircraft Industry Co Ltd Japan 588,361 71,933 0.02 0.02

SHO-BOND Holdings Co Ltd Japan 104,132,090 12,731,096 0.63 0.63

Siam Cement PCL/The Thailand 747,083,462 91,337,754 0.51 0.51

Siam City Cement PCL Thailand 129,090,603 15,782,501 0.66 0.66

Siam Global House PCL Thailand 406,944,090 49,752,620 2.48 2.48

Sichuan Expressway Co Ltd China 26,682,889 3,262,226 0.29 0.29

Siemens AG Germany 16,000,839,465 1,956,248,292 1.65 1.65

Siemens Ltd India 36,872,298 4,507,974 0.07 0.07

Sigdo Koppers SA Chile 25,746,571 3,147,753 0.14 0.14

Siix Corp Japan 175,215,141 21,421,646 1.98 1.98

Sika AG Switzerland 3,070,754,779 375,427,727 1.04 1.04

Silergy Corp Taiwan 341,658,991 41,770,922 2.1 2.1

Silgan Holdings IncUnited

States317,327,786 38,796,211 1.2 1.2

Silitech Technology Corp Taiwan 11,116,938 1,359,147 1.14 1.14

Sime Darby Bhd Malaysia 138,081,866 16,881,765 0.45 0.45

Simplo Technology Co Ltd Taiwan 190,476,492 23,287,485 2.25 2.25

Simpson Manufacturing Co IncUnited

States202,708,655 24,782,978 0.91 0.91

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017309

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sinbon Electronics Co Ltd Taiwan 84,278,170 10,303,774 1.58 1.58

Sincere Navigation Corp Taiwan 41,344,768 5,054,774 1.25 1.25

Sinfonia Technology Co Ltd Japan 59,990,611 7,334,398 1.27 1.27

Singamas Container Holdings Ltd Hong Kong 56,092,472 6,857,815 1.39 1.39

Singapore Post Ltd Singapore 111,637,674 13,648,722 0.65 0.65

Singapore Technologies Engineering

LtdSingapore 505,445,749 61,795,344 0.81 0.81

Sinko Industries Ltd Japan 33,700,577 4,120,202 0.78 0.78

Sinotrans Ltd China 126,913,800 15,516,367 0.52 0.52

Sinotrans Shipping Ltd China 75,070,368 9,178,036 0.9 0.9

Sinotruk Hong Kong Ltd China 54,886,281 6,710,348 0.22 0.22

Sino-Thai Engineering & Construction

PCLThailand 133,373,433 16,306,116 1.49 1.49

Sintex Industries Ltd India 33,382,713 4,081,341 1.62 1.62

Sintex Plastics Technology Ltd India 33,528,589 4,099,175 0.53 0.53

Sintokogio Ltd Japan 103,437,517 12,646,178 1.81 1.81

SIA Engineering Co Ltd Singapore 214,226,571 26,191,149 1 1

SIG PLCUnited

Kingdom355,674,522 43,484,448 3.08 3.08

SIMPAC Inc South Korea 9,241,385 1,129,843 1.01 1.01

SITC International Holdings Co Ltd Hong Kong 352,778,640 43,130,400 1.65 1.65

SIT SpA Italy 17,955,367 2,195,207 0.67 0.67

Skanska AB Sweden 767,732,942 93,862,341 0.78 1.11

SKF AB Sweden 1,215,297,093 148,581,133 0.87 1.47

SK Kaken Co Ltd Japan 16,554,743 2,023,968 0.12 0.12

SK Networks Co Ltd South Korea 56,657,437 6,926,887 0.45 0.45

Slater & Gordon Ltd Australia 691,300 84,518 0.05 0.05

Smart Metering Systems PLCUnited

Kingdom6,771,269 827,849 0.06 0.06

Smiths Group PLCUnited

Kingdom499,138,700 61,024,250 0.77 0.77

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017310

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Smurfit Kappa Group PLCUnited

Kingdom4,358,320,087 532,844,308 6.64 6.64

SMC Corp/Japan Japan 2,589,001,299 316,528,978 1.22 1.22

SMK Corp Japan 38,420,944 4,697,310 1.11 1.11

SMRE SpA Italy 12,564,550 1,536,131 1.01 1.01

SMS Co Ltd Japan 16,316,224 1,994,807 0.15 0.15

Sniezka SA Poland 17,418,899 2,129,619 0.68 0.79

SNC-Lavalin Group Inc Canada 352,546,848 43,102,062 0.54 0.54

Sociedad Matriz SAAM SA Chile 181,078,947 22,138,550 2.12 2.12

Societa Iniziative Autostradali e Servizi

SpAItaly 604,339,836 73,886,047 1.74 1.74

Societe d'Exploitation des Ports Morocco 126,810,607 15,503,751 1.23 1.23

Societe Marseillaise du Tunnel Prado-

Carenage SAFrance 2,666,957 326,060 0.2 0.2

Sodick Co Ltd Japan 95,235,528 11,643,410 1.67 1.67

Sogeclair France 4,055,350 495,803 0.18 0.3

Sohgo Security Services Co Ltd Japan 257,066,312 31,428,697 0.57 0.57

Sojitz Corp Japan 866,107,376 105,889,512 2.75 2.75

Solar A/S Denmark 100,786,941 12,322,121 1.18 2.42

Somfy SA France 27,870,693 3,407,446 0.05 0.09

Sonae Industria SGPS SA Portugal 8,175,580 999,539 0.52 0.52

Sonoco Products CoUnited

States439,783,449 53,767,530 1.02 1.02

Sound Global Ltd China 46,018,791 5,626,216 1.96 1.96

Southeast Cement Co Ltd Taiwan 2,254,107 275,585 0.1 0.1

Southern Concrete Pile PCL Thailand 10,405,011 1,272,107 1.55 1.55

SOCAM Development Ltd Hong Kong 2,785,842 340,594 0.29 0.29

Spectris PLCUnited

Kingdom731,878,066 89,478,756 2.23 2.23

Speedy Hire PLCUnited

Kingdom81,656,864 9,983,295 2.29 2.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017311

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Spirax-Sarco Engineering PLCUnited

Kingdom730,267,607 89,281,863 1.6 1.6

Spirit AeroSystems Holdings IncUnited

States943,146,872 115,308,291 1.14 1.14

Sporton International Inc Taiwan 7,559,794 924,254 0.19 0.19

SPIE SA France 783,464,155 95,785,625 2.13 2.39

SPX CorpUnited

States90,120,462 11,018,047 0.82 0.82

SPX FLOW IncUnited

States243,667,728 29,790,598 1.48 1.48

Srg Takamiya Co Ltd Japan 3,369,761 411,984 0.15 0.15

SRG Ltd Australia 5,124,540 626,522 0.68 0.68

Ssangyong Cement Industrial Co Ltd South Korea 114,224,133 13,964,940 0.8 0.79

Stabilus SA Germany 534,839,688 65,389,021 2.93 2.93

Stalexport Autostrady SA Poland 14,261,711 1,743,624 0.59 0.59

Standex International CorpUnited

States116,845,949 14,285,481 1.1 1.1

Stantec Inc Canada 412,069,954 50,379,303 1.58 1.58

Star Micronics Co Ltd Japan 154,055,225 18,834,654 2.32 2.32

Stef SA France 24,573,474 3,004,331 0.12 0.2

Stella-Jones Inc Canada 157,196,780 19,218,737 0.69 0.69

Stericycle IncUnited

States629,226,871 76,928,713 1.33 1.33

Stobart Group LtdUnited

Kingdom82,639,591 10,103,442 0.75 0.75

Strabag SE Austria 278,372,644 34,033,590 0.76 0.76

Strix Group PLCUnited

Kingdom37,108,747 4,536,882 1.2 1.2

Sturm Ruger & Co IncUnited

States79,471,487 9,716,113 1 1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017312

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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SThree PLCUnited

Kingdom32,646,543 3,991,337 0.62 0.62

STO SE & Co KGaA Germany 17,204,260 2,103,377 0.2

STX Engine Co Ltd South Korea 1,867,480 228,316 0.12 0.12

Success Transformer Corp Bhd Malaysia 12,534,091 1,532,407 2.18 2.18

Sulzer AG Switzerland 597,697,172 73,073,921 1.74 1.74

Sumida Corp Japan 84,125,712 10,285,134 2.19 2.19

Sumitomo Corp Japan 1,990,806,476 243,394,215 1.14 1.14

Sumitomo Densetsu Co Ltd Japan 240,409,714 29,392,276 3.87 3.87

Sumitomo Heavy Industries Ltd Japan 443,456,770 54,216,627 1.04 1.04

Sumitomo Mitsui Construction Co Ltd Japan 103,995,059 12,714,343 1.4 1.4

Sumitomo Osaka Cement Co Ltd Japan 382,945,725 46,818,601 2.33 2.33

Sumitomo Precision Products Co Ltd Japan 6,401,458 782,636 0.45 0.45

Sumitomo Warehouse Co Ltd/The Japan 74,001,442 9,047,350 0.71 0.71

Summit Materials IncUnited

States224,195,896 27,409,989 0.77 0.77

Sung Kwang Bend Co Ltd South Korea 31,676,819 3,872,779 1.45 1.45

Sunningdale Tech Ltd Singapore 46,058,359 5,631,054 2.06 2.06

Sunny Friend Environmental Technology

Co LtdTaiwan 50,814,299 6,212,511 0.65 0.65

Sunny Optical Technology Group Co Ltd China 616,603,373 75,385,376 0.54 0.54

Sunway Construction Group Bhd Malaysia 126,523,041 15,468,594 1.93 1.93

Sun Hydraulics CorpUnited

States131,013,290 16,017,567 0.91 0.91

Sun-Wa Technos Corp Japan 17,429,559 2,130,922 0.73 0.73

Super Group Ltd/South Africa South Africa 206,892,075 25,294,440 2.04 2.04

Suprema Inc South Korea 3,328,774 406,973 0.26 0.26

Supreme Industries Ltd India 9,110,528 1,113,845 0.04 0.04

Suria Capital Holdings Bhd Malaysia 18,326,708 2,240,607 1.7 1.7

Surya Semesta Internusa Tbk PT Indonesia 19,404,653 2,372,395 1.33 1.33

Surya Toto Indonesia Tbk PT Indonesia 19,272,093 2,356,189 0.76 0.76

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017313

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Suzhou Gold Mantis Construction

Decoration Co LtdChina 290,595,253 35,527,915 0.57 0.57

Svedbergs i Dalstorp AB Sweden 914,294 111,781 0.12 0.12

SVI PCL Thailand 71,530,169 8,745,214 3.06 3.06

Sweco AB Sweden 258,882,312 31,650,719 0.66 1.17

Swire Pacific Ltd Hong Kong 824,703,659 100,827,530 0.99 0.99

SWCC Showa Holdings Co Ltd Japan 19,662,605 2,403,932 0.91 0.91

Sydney Airport Australia 493,197,917 60,297,935 0.49 0.49

Sykes Enterprises IncUnited

States281,916,615 34,466,873 2.55 2.55

Syncmold Enterprise Corp Taiwan 68,330,287 8,354,000 2.39 2.39

Synergie SA France 18,598,862 2,273,880 0.1 0.18

S Kijchai Enterprise PCL Thailand 22,028,814 2,693,223 1.59

S-1 Corp South Korea 339,101,263 41,458,216 1.09 1.09

thyssenkrupp AG Germany 1,505,273,522 184,033,392 1.02 1.02

Tabuchi Electric Co Ltd Japan 5,330,736 651,731 0.56 0.56

Tadano Ltd Japan 133,935,048 16,374,779 0.76 0.76

Taewoong Co Ltd South Korea 317,709 38,843 0.01 0.01

Taeyoung Engineering & Construction

Co LtdSouth Korea 33,251,403 4,065,287 0.55 0.54

Taiflex Scientific Co Ltd Taiwan 54,424,405 6,653,879 1.59 1.59

Taihan Electric Wire Co Ltd South Korea 5,075,584 620,536 0.07 0.07

Taiheiyo Cement Corp Japan 961,888,581 117,599,636 2.14 2.14

Taihei Dengyo Kaisha Ltd Japan 90,780,581 11,098,752 2.11 2.11

Taikisha Ltd Japan 102,466,886 12,527,510 1.01 1.01

Taisei Corp Japan 1,357,917,682 166,017,799 1.48 1.48

Taisei Lamick Co Ltd Japan 20,603,975 2,519,023 1.27 1.27

Taiwan Cement Corp Taiwan 649,382,230 79,392,889 1.76 1.76

Taiwan Glass Industry Corp Taiwan 114,631,345 14,014,725 0.64 0.64

Taiwan High Speed Rail Corp Taiwan 62,440,638 7,633,936 0.17 0.17

Taiwan Hon Chuan Enterprise Co Ltd Taiwan 112,145,138 13,710,764 2.42 2.42

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017314

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Taiwan PCB Techvest Co Ltd Taiwan 57,054,867 6,975,477 2.4 2.4

Taiwan Secom Co Ltd Taiwan 92,718,925 11,335,733 0.82 0.82

Taiwan Shin Kong Security Co Ltd Taiwan 38,752,540 4,737,851 0.95 0.95

Taiwan Surface Mounting Technology

CorpTaiwan 54,154,582 6,620,891 1.89 1.89

Taiwan Union Technology Corp Taiwan 15,132,725 1,850,113 0.27 0.27

Taiyo Yuden Co Ltd Japan 184,990,564 22,616,781 1.2 1.2

Takamatsu Construction Group Co Ltd Japan 102,609,816 12,544,984 1.14 1.14

Takaoka Toko Co Ltd Japan 44,595,572 5,452,215 2.05 2.05

Takasago Thermal Engineering Co Ltd Japan 123,862,620 15,143,333 1 1

Takeei Corp Japan 64,093,065 7,835,961 2.7 2.7

Takeuchi Manufacturing Co Ltd Japan 86,107,243 10,527,394 0.9 0.9

Takuma Co Ltd Japan 140,756,916 17,208,814 1.48 1.48

Tamura Corp Japan 266,859,618 32,626,018 5.23 5.23

Tanseisha Co Ltd Japan 46,235,000 5,652,650 1.03 1.03

Tarkett SA France 578,695,872 70,750,839 1.75 2.64

Tata Motors Ltd India 1,396,059,333 170,680,963 0.72 0.85

Tatsuta Electric Wire and Cable Co Ltd Japan 115,110,484 14,073,305 2.52 2.52

Tat Hong Holdings Ltd Singapore 2,820,297 344,807 0.14 0.14

Ta Ya Electric Wire & Cable Taiwan 11,354,809 1,388,229 0.52 0.52

TDK Corp Japan 1,325,673,794 162,075,690 1.57 1.57

Technovator International Ltd Hong Kong 7,844,383 959,047 0.39 0.39

Tech Pro Technology Development Ltd China 2,116,067 258,708 0.37 0.37

Teikoku Electric Manufacturing Co Ltd Japan 32,570,519 3,982,043 1.4 1.4

Teixeira Duarte SA Portugal 5,497,487 672,118 0.6 0.6

Tekken Corp Japan 670,467 81,971 0.02 0.02

Teledyne Technologies IncUnited

States463,592,415 56,678,393 0.88 0.88

Teleperformance France 1,394,697,551 170,514,473 2.02 2.06

TeleTech Holdings IncUnited

States228,197,379 27,899,207 1.51 1.51

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017315

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Tennant CoUnited

States173,447,947 21,205,591 1.64 1.64

Terex CorpUnited

States385,950,172 47,185,922 1.16 1.16

Tetra Tech IncUnited

States815,564,819 99,710,224 3.72 3.72

Tex Cycle Technology Malaysia Bhd Malaysia 247,102 30,211 0.06 0.06

TE Connectivity LtdUnited

States2,896,339,969 354,103,929 1.06 1.06

TFI International Inc Canada 353,832,583 43,259,254 1.83 1.83

Thai Polycons PCL Thailand 15,016,850 1,835,947 2.33 2.33

Thales SA France 1,605,408,003 196,275,744 0.59 0.86

Thermax Ltd India 11,258,949 1,376,509 0.06 0.06

Thessaloniki Port Authority SA Greece 634,393 77,560 0.03 0.03

Thiensurat PCL Thailand 7,439,514 909,548 1.55 1.55

THK Co Ltd Japan 872,721,374 106,698,133 2.12 2.12

Tianjin Port Development Holdings Ltd China 87,039,090 10,641,321 1.17 1.17

TimkenSteel CorpUnited

States12,236,327 1,496,002 0.22 0.22

Timken Co/TheUnited

States417,316,951 51,020,796 1.34 1.34

Tim SA/Siechnice Poland 10,137,790 1,239,437 2.98 2.98

Tiong NAM Logistics Holdings Malaysia 11,690,032 1,429,213 0.95 0.95

Tipco Asphalt PCL Thailand 7,992,781 977,190 0.09 0.09

Titan Cement Co SA Greece 229,994,117 28,118,875 1.33 1.21

TKC Corp Japan 97,999,719 11,981,358 1.22 1.22

TKH Group NV Netherlands 619,700,996 75,764,088 2.78 2.78

TK Corp South Korea 33,384,964 4,081,616 1.37 1.37

Toa Corp/Hyogo Japan 60,148,578 7,353,711 1.69 1.69

Toa Corp/Tokyo Japan 74,761,217 9,140,239 1.51 1.51

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017316

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Toda Corp Japan 164,740,281 20,140,999 0.78 0.78

Toenec Corp Japan 16,985,166 2,076,591 0.35 0.35

Tokyo Cement Co Lanka PLC Sri Lanka 11,685,446 1,428,652 0.93

Tokyo Energy & Systems Inc Japan 42,673,574 5,217,233 1.2 1.2

Tokyu Construction Co Ltd Japan 95,208,180 11,640,067 1.12 1.12

Toli Corp Japan 38,248,397 4,676,215 1.78 1.78

Tomoku Co Ltd Japan 46,998,449 5,745,988 1.47 1.47

Tonami Holdings Co Ltd Japan 46,476,060 5,682,121 1.15 1.15

Tongda Group Holdings Ltd China 25,864,881 3,162,217 0.2 0.2

Tongyang Inc South Korea 15,813,433 1,933,336 0.44 0.43

Tong-Tai Machine & Tool Co Ltd Taiwan 11,343,245 1,386,815 0.8 0.8

TopBuild CorpUnited

States403,995,265 49,392,099 1.83 1.83

Toppan Forms Co Ltd Japan 125,872,213 15,389,024 1.18 1.18

Toppan Printing Co Ltd Japan 632,222,611 77,294,970 1.22 1.22

Toptec Co Ltd South Korea 44,902,758 5,489,771 0.56 0.56

Topy Industries Ltd Japan 122,044,575 14,921,060 2.01 2.01

Torishima Pump Manufacturing Co Ltd Japan 11,223,898 1,372,224 0.43 0.43

Toromont Industries Ltd Canada 333,816,674 40,812,127 1.15 1.15

Toro Co/TheUnited

States587,349,076 71,808,772 1.03 1.03

Toshiba Corp Japan 681,315,594 83,297,034 0.45 0.45

Toshiba Machine Co Ltd Japan 131,531,351 16,080,905 1.44 1.44

Toshiba Plant Systems & Services Corp Japan 124,174,162 15,181,422 0.83 0.83

Toshiba TEC Corp Japan 141,665,031 17,319,840 0.95 0.95

Tosho Printing Co Ltd Japan 1,036,850 126,764 0.03 0.03

Total System Services IncUnited

States743,437,865 90,892,047 0.63 0.63

Totetsu Kogyo Co Ltd Japan 107,020,166 13,084,190 1.09 1.09

Tou Rong Chang Fu Group Ltd Hong Kong 2,592,850 316,999 0.27 0.27

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017317

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Tox Free Solutions Ltd Australia 88,059,728 10,766,103 2.05 2.05

Toyota Tsusho Corp Japan 888,945,702 108,681,705 0.76 0.76

Toyo Construction Co Ltd Japan 27,675,870 3,383,627 0.61 0.61

Toyo Corp/Chuo-ku Japan 22,671,720 2,771,824 1.21 1.21

Toyo Denki Seizo KK Japan 32,615,428 3,987,533 2.41 2.41

Toyo Engineering Corp Japan 18,849,898 2,304,572 0.52 0.52

Toyo Kanetsu KK Japan 57,393,695 7,016,902 1.78 1.78

Toyo Machinery & Metal Co Ltd Japan 13,034,682 1,593,608 0.9 0.9

Toyo Seikan Group Holdings Ltd Japan 334,767,946 40,928,429 1.17 1.17

TOA Paint Thailand PCL Thailand 10,408,844 1,272,576 0.06 0.06

TOA ROAD CORP Japan 15,140,002 1,851,003 0.89 0.89

TOTO Ltd Japan 1,184,254,339 144,785,874 1.39 1.39

TPI Polene PCL Thailand 7,915,627 967,757 0.08 0.08

TPK Holding Co Ltd Taiwan 88,070,582 10,767,430 0.94 0.94

Trakcja SA Poland 10,549,781 1,289,807 1.2 1.2

Trancom Co Ltd Japan 175,450,647 21,450,439 2.96 2.96

Transcontinental Inc Canada 327,357,424 40,022,425 0.59 2.6

TransDigm Group IncUnited

States765,455,514 93,583,905 0.66 0.66

Transurban Group Australia 1,759,650,080 215,133,242 0.95 1.02

TransUnionUnited

States416,121,187 50,874,603 0.51 0.51

Travis Perkins PLCUnited

Kingdom976,544,147 119,391,412 2.24 2.24

Trelleborg AB Sweden 594,196,476 72,645,929 0.59 1.15

Trex Co IncUnited

States189,212,241 23,132,919 0.73 0.73

Trimble IncUnited

States856,517,049 104,717,007 1.02 1.02

TriMas CorpUnited

States218,984,028 26,772,791 2.19 2.19

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017318

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Trinity Industries Inc

United

States 478,239,571 58,469,141 1.03 1.03

TriNet Group IncUnited

States306,304,387 37,448,500 1.22 1.22

Tripod Technology Corp Taiwan 257,765,088 31,514,129 1.92 1.92

Triton International Ltd/BermudaUnited

States101,599,415 12,421,453 0.41 0.41

Triumph Group IncUnited

States7,451,689 911,037 0.07 0.07

TrueBlue IncUnited

States261,667,815 31,991,273 2.81 2.81

Truly International Holdings Ltd Hong Kong 42,601,174 5,208,381 0.39 0.39

Trusco Nakayama Corp Japan 448,773,476 54,866,643 2.85 2.85

Trust Tech Inc Japan 24,491,217 2,994,274 0.51 0.51

Tsubakimoto Chain Co Japan 158,378,786 19,363,248 1.25 1.25

Tsubaki Nakashima Co Ltd Japan 102,760,188 12,563,368 1.31 1.31

Tsugami Corp Japan 148,763,966 18,187,749 2.57 2.57

Tsukishima Kikai Co Ltd Japan 164,448,880 20,105,373 3.29 3.29

Tsurumi Manufacturing Co Ltd Japan 48,117,710 5,882,828 1.14 1.14

TSUNAGU SOLUTIONS Inc Japan 15,291,354 1,869,507 1.85 1.85

TTCL PCL Thailand 70,090,489 8,569,200 2.9 2.9

TTM Technologies IncUnited

States235,548,384 28,797,934 1.81 1.81

Turk Traktor ve Ziraat Makineleri AS Turkey 277,108,776 33,879,071 3.17 3.17

Tutor Perini CorpUnited

States71,028,625 8,683,896 0.69 0.69

TXC Corp Taiwan 86,531,019 10,579,205 2.56 2.56

UEM Edgenta Bhd Malaysia 2,456,635 300,346 0.06 0.06

UIL Co Ltd South Korea 1,807,698 221,008 0.33 0.33

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017319

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ultra Electronics Holdings PLCUnited

Kingdom167,603,054 20,490,999 1.45 1.45

Ulusoy Elektrik Imalat Taahhut Ve

Ticaret ASTurkey 33,612,003 4,109,373 2.09 2.09

Ulvac Inc Japan 567,227,197 69,348,689 2.23 2.23

UMC Electronics Co Ltd Japan 22,335,978 2,730,777 0.61 0.61

UniFirst Corp/MAUnited

States379,288,966 46,371,529 0.44 1.39

Unimicron Technology Corp Taiwan 130,720,164 15,981,730 1.91 1.91

Union Andina de Cementos SAA Peru 90,727,594 11,092,274 0.73 0.73

Union Pacific CorpUnited

States8,579,456,449 1,048,916,656 0.99 0.99

Union Tool Co Japan 21,132,129 2,583,595 0.34 0.34

Unique Engineering & Construction PCL Thailand 104,590,348 12,787,122 2.37 2.37

Unitech Printed Circuit Board Corp Taiwan 43,677,239 5,339,940 1.26 1.26

United Engineers Ltd Singapore 99,309,991 12,141,550 0.96 0.96

United Integrated Services Co Ltd Taiwan 89,867,166 10,987,079 2.34 2.34

United Parcel Service IncUnited

States4,866,789,838 595,009,364 0.21 0.58

United Rentals IncUnited

States1,276,655,540 156,082,762 1.07 1.07

United Technologies CorpUnited

States6,719,375,898 821,504,875 0.81 0.81

United U-Li Corp BHD Malaysia 30,892,437 3,776,882 3.1 3.1

Universal Cement Corp Taiwan 19,157,410 2,342,168 0.46 0.46

Universal Display CorpUnited

States381,477,957 46,639,153 0.57 0.57

Universal Forest Products IncUnited

States198,548,344 24,274,343 1.05 1.05

Uni-Select Inc Canada 19,055,538 2,329,713 0.24 0.24

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017320

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Uponor OYJ Finland 174,435,366 21,326,312 1.46 1.46

Ushio Inc Japan 93,975,566 11,489,369 0.58 0.58

USG CorpUnited

States366,258,660 44,778,456 0.82 0.82

US Ecology IncUnited

States76,734,580 9,381,501 0.84 0.84

Utoc Corp Japan 15,083,984 1,844,154 0.88 0.88

Uzin Utz AG Germany 2,592,093 316,907 0.08 0.08

U-Ming Marine Transport Corp Taiwan 21,228,362 2,595,361 0.25 0.25

va-Q-tec AG Germany 11,705,332 1,431,083 0.5 0.5

Valid Solucoes e Servicos de

Seguranca em Meios de Pagamento e

Identificacao SA

Brazil 133,413,215 16,310,980 4.1 4.1

Vallourec SA France 257,053,369 31,427,114 1.11 1.13

Valmet OYJ Finland 882,438,063 107,886,087 3.63 3.63

Valmont Industries IncUnited

States365,830,396 44,726,096 1.19 1.19

Vantiv IncUnited

States691,502,004 84,542,415 0.71 0.65

VAT Group AG Switzerland 949,783,493 116,119,679 2.61 2.61

VA Tech Wabag Ltd India 11,184,761 1,367,439 0.26 0.26

Veeco Instruments IncUnited

States57,476,456 7,027,020 0.98 0.98

Venture Corp Ltd Singapore 634,638,149 77,590,291 1.78 1.78

Verisk Analytics IncUnited

States1,059,457,202 129,528,288 0.82 0.82

Vesuvius PLCUnited

Kingdom412,640,618 50,449,072 2.35 2.35

Vetropack Holding AG Switzerland 142,705,845 17,447,089 0.82 0.82

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017321

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Viad CorpUnited

States241,878,101 29,571,800 2.62 2.62

Vicat SA France 352,756,627 43,127,709 0.73 1.22

Vidrala SA Spain 36,381,770 4,448,003 0.18 0.18

Vietnam Container Shipping JSC Vietnam 19,681,789 2,406,278 2.54 2.54

Vietnam Electrical Equipment JSC Vietnam 5,062,690 618,960 0.21 0.21

Viglacera Corp Vietnam 116,474,648 14,240,086 2.9 2.9

Vinci SA France 8,728,328,479 1,067,117,617 1.77 1.77

Viohalco SA Belgium 57,283,056 7,003,375 0.7 0.7

Viscom AG Germany 2,971,651 363,311 0.11 0.11

Vishay Intertechnology IncUnited

States225,803,101 27,606,485 0.53 0.92

Vitec Group PLC/TheUnited

Kingdom58,913,085 7,202,661 1.05 1.05

Vitro SAB de CV Mexico 65,608,232 8,021,204 0.46 0.46

Viva China Holdings Ltd China 39,304,574 4,805,342 0.55 0.55

Vivotek Inc Taiwan 10,099,917 1,234,807 0.46 0.46

Volati AB Sweden 2,525,965 308,822 0.05 0.05

Voltas Ltd India 122,962,259 15,033,256 0.44 0.44

Voltronic Power Technology Corp Taiwan 43,102,482 5,269,671 0.39 0.39

Volvo AB Sweden 8,262,559,013 1,010,173,059 5.04 2.54

Von Roll Holding AG Switzerland 4,331,438 529,558 0.18 0.18

Vossloh AG Germany 129,031,666 15,775,296 1.76 1.76

VS Industry Bhd Malaysia 110,244,216 13,478,359 1.41 1.41

VS International Group Ltd China 6,591,778 805,905 0.91 0.91

VTG AG Germany 46,558,334 5,692,180 0.35 0.35

Vulcan Materials CoUnited

States855,083,185 104,541,704 0.62 0.62

V Technology Co Ltd Japan 84,322,888 10,309,241 1.27 1.27

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017322

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Wabtec Corp/DEUnited

States390,420,616 47,732,475 0.61 0.61

Wacker Neuson SE Germany 430,491,849 52,631,548 2.05 2.05

WageWorks IncUnited

States212,921,306 26,031,568 1.06 1.06

Wagners Holding Co Ltd Australia 2,230,857 272,743 0.06 0.06

Wah Lee Industrial Corp Taiwan 59,209,541 7,238,905 1.67 1.67

Wakita & Co Ltd Japan 102,265,267 12,502,860 1.96 1.96

Walsin Lihwa Corp Taiwan 337,624,943 41,277,723 2.07 2.07

Walsin Technology Corp Taiwan 298,303,719 36,470,345 2.13 2.13

Walter Meier AG Switzerland 7,437,401 909,290 0.19 0.19

Wan Hai Lines Ltd Taiwan 98,838,674 12,083,928 0.84 0.84

Wartsila OYJ Abp Finland 2,040,218,851 249,435,328 2.08 2.08

Washtec AG Germany 39,239,963 4,797,443 0.36 0.36

Wasion Group Holdings Ltd China 47,291,549 5,781,822 1.18 1.18

Waskita Beton Precast Tbk PT Indonesia 73,298,495 8,961,408 1.13 1.13

Waskita Karya Persero Tbk PT Indonesia 282,660,686 34,557,842 1.56 1.56

Waste Connections Inc Canada 3,137,757,617 383,619,434 2.05 2.05

Waste Management IncUnited

States3,384,143,852 413,742,394 1.1 1.1

Watpac Ltd Australia 19,936,371 2,437,403 2.56 2.56

Watsco IncUnited

States481,272,639 58,839,961 0.42 0.97

Watts Water Technologies IncUnited

States272,124,272 33,269,670 0.48 1.28

WCT Holdings Bhd Malaysia 25,290,710 3,092,020 0.55 0.55

WDB Holdings Co Ltd Japan 26,683,631 3,262,317 0.49 0.49

Weathernews Inc Japan 37,106,766 4,536,640 1.3 1.3

Weichai Power Co Ltd China 267,980,165 32,763,015 0.37 0.37

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017323

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Weir Group PLC/TheUnited

Kingdom746,511,081 91,267,776 1.42 1.42

Welling Holding Ltd China 34,159,220 4,176,276 0.57 0.57

Wellnet Corp Japan 8,659,568 1,058,711 0.52 0.52

Werner Enterprises IncUnited

States129,001,722 15,771,635 0.56 0.56

Wesco Aircraft Holdings IncUnited

States28,381,139 3,469,853 0.47 0.47

Westports Holdings Bhd Malaysia 51,119,078 6,249,773 0.2 0.2

WestRock CoUnited

States1,290,202,800 157,739,038 0.98 0.98

Westshore Terminals Investment Corp Canada 233,485,963 28,545,785 1.91 1.91

West China Cement Ltd China 40,194,966 4,914,201 0.61 0.61

WEG SA Brazil 410,631,657 50,203,458 0.43 0.43

WESCO International IncUnited

States380,048,569 46,464,397 1.45 1.45

WEX IncUnited

States38,554,941 4,713,692 0.08 0.08

WHA Corp PCL Thailand 188,903,579 23,095,182 1.31 1.31

Wielton SA Poland 36,581,383 4,472,407 2 2

Wienerberger AG Austria 675,119,548 82,539,511 2.95 2.95

Wijaya Karya Bangunan Gedung PT Indonesia 53,647,972 6,558,953 3.42 3.42

Wilson Sons Ltd Brazil 183,821,466 22,473,848 2.62 2.62

Wincanton PLCUnited

Kingdom44,058,286 5,386,527 1.35 1.35

Winpak Ltd Canada 174,657,075 21,353,417 0.88 0.88

Wirecard AG Germany 1,446,489,166 176,846,469 1.28 1.28

Wisdom Marine Lines Co Ltd Taiwan 8,515,308 1,041,074 0.17 0.17

WiSoL Co Ltd South Korea 33,807,936 4,133,328 1.3 1.3

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017324

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Woodward IncUnited

States402,977,352 49,267,650 1.05 1.05

Wood One Co Ltd Japan 7,370,186 901,072 0.65 0.65

Worldline SA/France France 717,117,820 87,674,182 0.8 1.35

Worldpay Group PLCUnited

Kingdom1,443,514,787 176,482,824 1.53 1.53

World Fuel Services CorpUnited

States160,297,212 19,597,793 1.03 1.03

World Holdings Co Ltd Japan 66,585,135 8,140,639 1.51 1.51

WSP Global Inc Canada 346,529,842 42,366,428 0.86 0.86

WUS Printed Circuit Co Ltd Taiwan 13,299,656 1,626,004 1.14 1.14

WW Grainger IncUnited

States1,083,289,360 132,441,986 0.98 0.98

W-Scope Corp Japan 1,104,848 135,078 0.02 0.02

Xaar PLCUnited

Kingdom41 5 0

Xerox CorpUnited

States608,835,092 74,435,633 1 1

Xinyi Automobile Glass Hong Kong

Enterprises LtdHong Kong 13,315,485 1,627,939 1.08 1.08

Xin Hwa Holdings Bhd Malaysia 6,840,066 836,260 1.29 1.29

XPO Logistics Europe SADIR France 65,483,563 8,005,962 0.26 0.26

XPO Logistics IncUnited

States636,122,160 77,771,725 0.71 0.71

Xxentria Technology Materials Corp Taiwan 6,717,520 821,278 0.24 0.24

Xylem Inc/NYUnited

States2,198,769,392 268,819,575 2.19 2.19

Yageo Corp Taiwan 654,327,909 79,997,544 1.92 1.92

Yahagi Construction Co Ltd Japan 100,321,304 12,265,193 3.15 3.15

Yamato Holdings Co Ltd Japan 430,507,114 52,633,414 0.64 0.64

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017325

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Yamazen Corp Japan 126,208,064 15,430,085 1.37 1.37

Yangzijiang Shipbuilding Holdings Ltd China 216,839,465 26,510,599 0.61 0.61

Yang Ming Marine Transport Corp Taiwan 11,976,068 1,464,183 0.16 0.16

Yaskawa Electric Corp Japan 685,266,110 83,780,020 0.71 0.71

YAMABIKO Corp Japan 145,510,514 17,789,985 2.54 2.54

Yinson Holdings BHD Malaysia 176,373,392 21,563,253 1.98 1.98

YIT OYJ Finland 16,146,743 1,974,086 0.2 0.2

Yokogawa Bridge Holdings Corp Japan 120,426,400 14,723,224 1.38 1.38

Yokogawa Electric Corp Japan 451,889,889 55,247,653 1.07 1.07

Yoma Strategic Holdings Ltd Singapore 12,958,745 1,584,325 0.21 0.21

Yong Tai BHD Malaysia 11,704,535 1,430,986 0.79 0.79

Youlchon Chemical Co Ltd South Korea 64,936,262 7,939,049 1.62 1.62

Young Fast Optoelectronics Co Ltd Taiwan 9,244,692 1,130,248 1.09 1.09

Young Optics Inc Taiwan 21,434,647 2,620,581 1.35 1.35

Yuanda China Holdings Ltd China 1,619,493 197,998 0.18 0.18

Yuasa Trading Co Ltd Japan 121,341,144 14,835,060 1.76 1.76

Yuexiu Transport Infrastructure Ltd China 44,863,640 5,484,988 0.45 0.45

Yungtay Engineering Co Ltd Taiwan 74,077,545 9,056,654 1.37 1.37

Yung Chi Paint & Varnish Manufacturing

Co LtdTaiwan 37,948,433 4,639,541 1.05 1.05

Yurtec Corp Japan 52,203,769 6,382,386 0.92 0.92

Yushin Precision Equipment Co Ltd Japan 22,101,758 2,702,141 0.53 0.53

Zamet Industry SA Poland 10,510,757 1,285,036 4.22 4.22

Zardoya Otis SA Spain 437,873,663 53,534,042 1.04 1.04

Zebra Technologies CorpUnited

States488,066,491 59,670,572 1.08 1.08

Zehnder Group AG Switzerland 57,635,718 7,046,491 0.87 0.87

Zhejiang Crystal-Optech Co Ltd China 152,216,218 18,609,818 0.77 0.77

Zhejiang Dahua Technology Co Ltd China 343,283,695 41,969,557 0.41 0.41

Zhejiang Expressway Co Ltd China 189,409,672 23,157,057 0.49 0.49

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017326

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Zhejiang Weixing New Building

Materials Co LtdChina 41,744,359 5,103,628 0.18 0.18

Zhen Ding Technology Holding Ltd Taiwan 77,213,808 9,440,091 0.53 0.53

Zhuzhou CRRC Times Electric Co Ltd China 405,188,484 49,537,981 0.65 0.65

Zignago Vetro SpA Italy 46,915,363 5,735,830 0.67 0.67

Zodiac Aerospace France 809,545,260 98,974,278 0.87 1.13

Zoomlion Heavy Industry Science and

Technology Co LtdChina 43,930,066 5,370,851 0.16 0.16

ZPUE SA Poland 15,330,985 1,874,352 2.17 2.79

ZTO Express Cayman Inc China 209,655,189 25,632,255 0.06 0.22

Zuiko Corp Japan 24,499,167 2,995,246 1.21 1.21

Zuken Inc Japan 36,823,375 4,501,993 1.15 1.15

Zumtobel Group AG Austria 138,357,487 16,915,462 3.23 3.23

OIL & GAS

Abengoa SA Spain 5,151 630 0

Abu Dhabi National Oil Co for

Distribution PJSC

United Arab

Emirates85,399,147 10,440,823 0.12 0.12

Advantage Oil & Gas Ltd Canada 151,691,611 18,545,680 2.31 2.31

ADES International Holding LtdUnited Arab

Emirates122,285,225 14,950,482 2.63 2.63

Alexandria Mineral Oils Co Egypt 57,543,589 7,035,228 1.06 1.06

AltaGas Ltd Canada 432,463,808 52,872,638 1.33 0.91

Anadarko Petroleum CorpUnited

States1,943,410,839 237,599,667 0.81 0.81

AndeavorUnited

States1,714,049,220 209,558,121 1.17 1.17

Antero Resources CorpUnited

States211,233,497 25,825,218 0.43 0.43

Anton Oilfield Services Group/Hong

KongHong Kong 16,591,065 2,028,409 0.69 0.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017327

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Apache CorpUnited

States1,237,562,707 151,303,307 0.94 0.94

APA Group Australia 692,840,672 84,706,080 1.17 1.17

Archrock IncUnited

States154,137,626 18,844,728 2.53 2.53

ARC Resources Ltd Canada 396,522,604 48,478,498 1.16 1.16

Atlantic Petroleum P/F Denmark 978,985 119,690 2.52 2.52

Australis Oil & Gas Ltd Australia 2,254,901 275,682 0.19 0.19

AWE Ltd Australia 180,379,399 22,053,024 5.15 5.15

Baker Hughes a GE CoUnited

States1,068,535,094 130,638,143 0.36 0.36

Bangchak Corp PCL Thailand 374,881,559 45,832,683 2.66 2.66

Bashneft PJSC Russia 354,185,841 43,302,444 0.35

Baytex Energy Corp Canada 106,512,138 13,022,079 1.84 1.84

Beach Energy Ltd Australia 259,963,198 31,782,868 1.43 1.43

Bharat Petroleum Corp Ltd India 261,926,181 32,022,860 0.18 0.18

Birchcliff Energy Ltd Canada 43,265,383 5,289,587 0.57 0.57

Boart Longyear Ltd Australia 191,649 23,431 0.01 0.01

Bonavista Energy Corp Canada 42,893,087 5,244,070 1.1 1.1

Bonterra Energy Corp Canada 35,564,104 4,348,035 1.07 1.07

Bourbon Corp France 53,093,998 6,491,225 0.82 1

BP PLCUnited

Kingdom24,853,712,829 3,038,592,655 2.17 2.17

Brightoil Petroleum Holdings Ltd Hong Kong 88,124,693 10,774,046 0.65 0.65

Cabot Oil & Gas CorpUnited

States748,085,200 91,460,226 0.69 0.69

Callon Petroleum CoUnited

States41,023,395 5,015,484 0.2 0.2

Caltex Australia Ltd Australia 861,942,488 105,380,316 1.52 1.52

Canacol Energy Ltd Canada 56,267,455 6,879,209 1.11 1.11

Canadian Natural Resources Ltd Canada 3,010,578,479 368,070,626 0.84 0.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017328

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Canadian Solar Inc China 174,327,141 21,313,080 2.18 2.18

Carrizo Oil & Gas IncUnited

States35,058,822 4,286,260 0.25 0.25

Cenovus Energy Inc Canada 453,680,963 55,466,628 0.49 0.49

CENTROTEC Sustainable AG Germany 23,007,009 2,812,816 0.84 0.84

CES Energy Solutions Corp Canada 140,616,552 17,191,654 1.23 1.23

CGG SA France 2,368,200 289,534 0.29 0.29

Chart Industries IncUnited

States275,414,712 33,671,956 2.34 2.34

Cheniere Energy IncUnited

States295,296,025 36,102,627 0.28 0.28

Chesapeake Energy CorpUnited

States265,498,342 32,459,589 0.9 0.9

Chevron CorpUnited

States18,355,573,052 2,244,135,910 0.94 0.94

China Conch Venture Holdings Ltd China 224,172,448 27,407,123 0.66 0.66

China Gas Holdings Ltd China 322,462,238 39,423,944 0.29 0.29

China High Speed Transmission

Equipment Group Co LtdChina 121,095,667 14,805,048 0.52 0.52

China Longyuan Power Group Corp Ltd China 249,592,569 30,514,964 0.53 0.53

China Oilfield Services Ltd China 179,457,677 21,940,335 0.47 0.47

China Oil & Gas Group Ltd China 11,001,468 1,345,030 0.21 0.21

China Petroleum & Chemical Corp China 2,088,297,180 255,313,342 0.29 0.29

China Singyes Solar Technologies

Holdings LtdChina 57,825,388 7,069,680 1.95 1.95

Cimarex Energy CoUnited

States809,244,792 98,937,543 0.85 0.85

CNOOC Ltd China 1,952,185,136 238,672,405 0.37 0.37

CNX Resources CorpUnited

States318,305,949 38,915,800 1.16 1.16

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017329

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Concho Resources IncUnited

States1,031,453,517 126,104,583 0.56 0.56

ConocoPhillipsUnited

States4,945,060,010 604,578,605 0.92 0.92

Continental Resources Inc/OKUnited

States309,737,695 37,868,253 0.19 0.19

Cooper Energy Ltd Australia 23,159,934 2,831,513 0.7 0.7

Core Laboratories NVUnited

States640,217,187 78,272,379 1.62 1.62

Cosco Capital Inc Philippines 184,360,854 22,539,793 1.99 1.99

Cosmo Energy Holdings Co Ltd Japan 238,230,769 29,125,880 0.91 0.91

Crescent Point Energy Corp Canada 475,525,449 58,137,315 1.39 1.39

Crew Energy Inc Canada 8,826,709 1,079,146 0.29 0.29

CropEnergies AG Germany 139,321,941 17,033,376 2.09 2.09

CVR Energy IncUnited

States122,475,600 14,973,757 0.46 0.46

C&J Energy Services IncUnited

States102,101,495 12,482,837 0.54 0.54

Dayang Enterprise Holdings Bhd Malaysia 5,122,031 626,215 0.39 0.39

Delek Energy Systems Ltd Israel 23,226,583 2,839,661 0.15 0.15

Delek US Holdings IncUnited

States713,149,318 87,188,996 3.06 3.06

Denbury Resources IncUnited

States136,275,680 16,660,942 1.87 1.87

Devon Energy CorpUnited

States1,741,850,214 212,957,046 0.98 0.98

Dialog Group BHD Malaysia 187,400,312 22,911,394 0.66 0.66

Diamondback Energy IncUnited

States912,140,735 111,517,509 0.9 0.9

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017330

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Diamond Offshore Drilling IncUnited

States209,682,323 25,635,573 1 1

Doosan Heavy Industries & Construction

Co LtdSouth Korea 89,501,988 10,942,433 0.72 0.72

Dril-Quip IncUnited

States210,198,735 25,698,709 1.42 1.42

eRex Co Ltd Japan 5,752,425 703,286 0.15 0.15

Elnusa Tbk PT Indonesia 43,273,060 5,290,526 2.64 2.64

Empresas COPEC SA Chile 182,266,831 22,283,779 0.11 0.11

Enbridge Inc Canada 4,821,089,848 589,422,124 0.89 0.89

Enbridge Income Fund Holdings Inc Canada 387,318,454 47,353,207 1.15 1.15

Encana Corp Canada 859,369,760 105,065,777 0.81 0.81

Enerflex Ltd Canada 245,154,028 29,972,312 2.76 2.76

Energen CorpUnited

States271,499,681 33,193,308 0.59 0.59

Enerplus Corp Canada 234,831,478 28,710,286 1.21 1.21

Eni SpA Italy 7,017,551,561 857,959,564 1.42 1.42

EnQuest PLCUnited

Kingdom3 0

Ensco PLCUnited

States304,316,329 37,205,442 1.44 1.44

Ensign Energy Services Inc Canada 151,530,989 18,526,043 2.28 2.28

EOG Resources IncUnited

States4,365,012,683 533,662,538 0.86 0.86

Equital Ltd Israel 1,223,654 149,603 0.03 0.03

EQT CorpUnited

States709,716,967 86,769,360 0.59 0.59

Esso SA Francaise France 54,743,984 6,692,950 0.76 0.76

Esso Thailand PCL Thailand 44,561,158 5,448,007 0.29 0.29

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017331

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Exterran CorpUnited

States247,964,567 30,315,926 2.69 2.69

Extraction Oil & Gas IncUnited

States84,808,967 10,368,668 0.42 0.42

Exxon Mobil CorpUnited

States25,266,383,006 3,089,045,340 0.87 0.87

Ezion Holdings Ltd Singapore 23,637,627 2,889,915 1.35 1.35

Ezra Holdings Ltd Singapore 19,619 2,399 0.2 0.2

E-Ton Solar Tech Co Ltd Taiwan 14,858,659 1,816,606 0.82 0.82

First Solar IncUnited

States872,147,091 106,627,922 1.51 1.51

Formosa Petrochemical Corp Taiwan 666,252,378 81,455,419 0.22 0.22

Forum Energy Technologies IncUnited

States5,253,537 642,293 0.04 0.04

Freehold Royalties Ltd Canada 73,263,926 8,957,182 0.68 0.68

Fugro NV Netherlands 335,555,436 41,024,707 3.11 3.11

Fuji Oil Co Ltd Japan 66,159,976 8,088,659 1.86 1.86

Galp Energia SGPS SA Portugal 1,453,208,046 177,667,913 1.16 1.16

Gazprom Neft PJSC Russia 663,559,819 81,126,229 0.4 0.4

Gazprom PJSC Russia 957,201,250 117,026,567 0.22 0.22

GAIL India Ltd India 1,313,540,712 160,592,310 1.21 1.21

GCL-Poly Energy Holdings Ltd China 217,812,151 26,629,518 0.8 0.8

Genex Power Ltd Australia 7,811,321 955,005 1.14 1.14

Geopark Ltd Chile 66,929,061 8,182,687 1.37 1.37

Geospace Technologies CorpUnited

States10,971,750 1,341,396 0.76 0.76

Gibson Energy Inc Canada 246,381,420 30,122,372 1.45 1.45

Gigasolar Materials Corp Taiwan 3,794,409 463,901 0.09 0.09

Gintech Energy Corp Taiwan 75,202,480 9,194,188 2.95 2.95

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017332

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Golar LNG LtdUnited

States99,033,272 12,107,719 0.4 0.4

Gran Tierra Energy Inc Canada 127,255,126 15,558,098 1.48 1.46

Green Energy Technology Inc Taiwan 42,840,845 5,237,683 2.14 2.14

Green Plains IncUnited

States203,541,802 24,884,838 3.59 3.59

Grupa Lotos SA Poland 149,402,367 18,265,799 0.6 0.6

GS Holdings Corp South Korea 411,064,596 50,256,389 0.93 0.91

Gujarat State Petronet Ltd India 251,402,082 30,736,193 1.53 1.53

Gulfport Energy CorpUnited

States172,076,217 21,037,884 0.9 0.9

Gulfsands Petroleum PLCUnited

Kingdom1,995,642 243,985 0.65 0.65

Gulf Marine Services PLCUnited

Kingdom52,341,587 6,399,235 3.01 3.01

Halliburton CoUnited

States3,096,420,463 378,565,591 0.89 0.89

Hanergy Thin Film Power Group Ltd China 26,483,880 3,237,895 0.07 0.07

Hankook Shell Oil Co Ltd South Korea 38,334,164 4,686,701 1.01 1.01

Helix Energy Solutions Group IncUnited

States149,289,271 18,251,972 1.64 1.64

Hellenic Petroleum SA Greece 184,723,102 22,584,081 0.81 0.81

Helmerich & Payne IncUnited

States649,509,871 79,408,495 1.13 1.13

Hess CorpUnited

States699,463,891 85,515,828 0.57 0.57

Hibiscus Petroleum Bhd Malaysia 77,564,210 9,482,931 2.78 2.78

Hilong Holding Ltd China 8,589,662 1,050,164 0.43 0.43

Hindustan Petroleum Corp Ltd India 531,602,142 64,993,201 0.65 0.65

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017333

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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HollyFrontier CorpUnited

States1,430,704,990 174,916,710 1.93 1.93

Honghua Group Ltd Hong Kong 35,510,246 4,341,451 0.95 0.95

Horizon Oil Ltd Australia 7,990,204 976,875 1.03 1.03

Huaneng Renewables Corp Ltd China 749,929,282 91,685,682 2.56 2.56

Hunting PLCUnited

Kingdom281,919,965 34,467,282 2.57 2.57

Idemitsu Kosan Co Ltd Japan 909,731,933 111,223,011 1.33 1.33

IGas Energy PLCUnited

Kingdom2,493,617 304,867 0.22 0.22

IG Seismic Services PLC Russia 458,862 56,100 1.8 1.8

Imdex Ltd Australia 23,573,951 2,882,130 0.96 0.96

Imperial Oil Ltd Canada 1,021,429,469 124,879,051 0.48 0.48

Indian Oil Corp Ltd India 667,618,870 81,622,485 0.28 0.28

Inpex Corp Japan 2,483,709,232 303,656,065 1.66 1.66

International Petroleum Corp/Sweden Sweden 34,100,677 4,169,118 1.08 1.08

InterOil CorpUnited

States396 48 0

Inter Pipeline Ltd Canada 586,203,089 71,668,664 0.92 0.92

IRPC PCL Thailand 584,502,204 71,460,716 1.62 1.62

Japan Drilling Co Ltd Japan 19,714,346 2,410,258 0.63 0.63

Japan Petroleum Exploration Co Ltd Japan 225,263,606 27,540,527 1.82 1.82

Jerusalem Oil Exploration Israel 57,556,161 7,036,765 0.67 0.67

JinkoSolar Holding Co Ltd China 65,983,565 8,067,091 1.03 1.03

John Wood Group PLCUnited

Kingdom365,565,775 44,693,744 0.75 0.75

JXTG Holdings Inc Japan 1,979,482,122 242,009,710 1.09 1.09

Karoon Gas Australia Ltd Australia 31,231,447 3,818,329 1.52 1.52

KenolKobil Ltd Group Kenya 30,321,650 3,707,098 1.86 1.86

Keppel Corp Ltd Singapore 862,165,083 105,407,530 1.06 1.06

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017334

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Keyera Corp Canada 401,312,558 49,064,114 0.85 0.85

Kinder Morgan Inc/DEUnited

States2,882,398,371 352,399,441 0.87 0.87

KNM Group Bhd Malaysia 23,778,080 2,907,087 2.23 2.23

KOC Holding AS Turkey 307,776,143 37,628,435 0.3 0.3

Kunlun Energy Co Ltd China 284,075,867 34,730,861 0.41 0.41

K&O Energy Group Inc Japan 50,072,280 6,121,792 1.2 1.2

Lamprell PLCUnited

Kingdom178,537,323 21,827,813 6.05 6.05

Laredo Petroleum IncUnited

States165,865,560 20,278,575 0.79 0.79

Lb-shell PLCUnited

Kingdom28,825 3,524 0.53 0.53

Lightstream Resources Ltd Canada 1,318 161 0.2 0.2

Liquefied Natural Gas Ltd Australia 14,099,373 1,723,777 1.01 1.01

Lundin Petroleum AB Sweden 140,256,897 17,147,683 0.22 0.22

LUKOIL PJSC Russia 1,250,048,607 152,829,822 0.31 0.31

Maire Tecnimont SpA Italy 190,332,672 23,269,902 1.47 1.47

Mangalore Refinery & Petrochemicals

LtdIndia 10,316,083 1,261,235 0.04 0.04

Marathon Oil CorpUnited

States1,013,849,529 123,952,335 0.86 0.86

Marathon Petroleum CorpUnited

States2,953,938,052 361,145,819 1.12 1.12

Matador Resources CoUnited

States10,958,981 1,339,835 0.04 0.04

McDermott International IncUnited

States184,190,168 22,518,925 1.21 1.21

MJL Bangladesh Ltd Bangladesh 20,133,506 2,461,504 0.62 0.62

Modec Inc Japan 91,805,850 11,224,101 0.77 0.77

Motech Industries Inc Taiwan 41,518,635 5,076,031 1.25 1.25

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017335

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Motor Oil Hellas Corinth Refineries SA Greece 372,826,901 45,581,483 1.82 1.82

MOL Hungarian Oil & Gas PLC Hungary 170,580,202 20,854,983 0.22 0.22

MRC Global IncUnited

States210,510,368 25,736,809 1.61 1.61

Murphy Oil CorpUnited

States708,528,810 86,624,097 1.62 1.62

Nabors Industries LtdUnited

States107,255,082 13,112,910 0.6 0.6

Naphtha Israel Petroleum Corp Ltd Israel 7,311,056 893,843 0.13 0.13

National Oilwell Varco IncUnited

States811,670,071 99,234,055 0.72 0.72

NCS Multistage Holdings IncUnited

States6,028,181 737,000 0.11 0.11

Neo Solar Power Corp Taiwan 9,969,625 1,218,877 0.26 0.26

Neste Oyj Finland 2,307,294,122 282,087,711 1.72 1.72

Newfield Exploration CoUnited

States589,431,959 72,063,423 1.14 1.14

Newpark Resources IncUnited

States73,146,329 8,942,805 1.21 1.21

New Zealand Oil & Gas LtdNew

Zealand14,725,683 1,800,349 2.27 2.27

New Zealand Refining Co Ltd/TheNew

Zealand80,442,096 9,834,779 1.67 1.67

Noble Corp plcUnited

States197,472,062 24,142,757 2.18 2.18

Noble Energy IncUnited

States681,049,170 83,264,461 0.59 0.59

Nordex SE Germany 294,798,406 36,041,789 3.49 3.49

Nostrum Oil & Gas PLCUnited

Kingdom138,508,688 16,933,948 2.04 2.04

Novatek PJSC Russia 895,014,784 109,423,705 0.31 0.31

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017336

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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NOW IncUnited

States144,580,939 17,676,336 1.49 1.49

NuVista Energy Ltd Canada 184,937,191 22,610,255 2.03 2.03

Oasis Petroleum IncUnited

States158,380,667 19,363,478 0.85 0.85

Obsidian Energy Ltd Canada 85,062,867 10,399,710 1.66 1.66

Occidental Petroleum CorpUnited

States3,951,965,090 483,163,710 0.86 0.86

Oceaneering International IncUnited

States311,292,500 38,058,342 1.83 1.83

OGE Energy CorpUnited

States583,082,475 71,287,141 1.08 1.08

Oil India Ltd India 35,435,138 4,332,268 0.1 0.1

Oil Refineries Ltd Israel 120,899,827 14,781,105 0.96 0.96

Oil Search Ltd Australia 707,779,300 86,532,463 0.93 0.93

Oil States International IncUnited

States236,384,740 28,900,186 2 2

Oil & Natural Gas Corp Ltd India 1,363,497,714 166,700,008 0.42 0.42

OMV AG Austria 1,816,944,665 222,138,026 1.07 1.07

OMV Petrom SA Romania 78,719,609 9,624,189 0.23 0.23

Ophir Energy PLCUnited

Kingdom170,195,398 20,807,937 3.2 3.2

Orsknefteorgsintez OAO Russia 5,953,060 727,816 2.45

Pacific Ethanol IncUnited

States49,070,022 5,999,257 3 3

Paramount Resources Ltd Canada 32,004,778 3,912,875 0.19 0.19

Parex Resources Inc Canada 450,772,647 55,111,060 2.45 2.45

Parsley Energy IncUnited

States427,362,322 52,248,934 0.56 0.56

Pason Systems Inc Canada 182,444,159 22,305,459 1.81 1.81

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017337

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Pattern Energy Group IncUnited

States461,365,523 56,406,135 2.68 2.68

Patterson-UTI Energy IncUnited

States222,696,500 27,226,675 0.53 0.53

Paz Oil Co Ltd Israel 219,991,119 26,895,917 1.53 1.53

PBF Energy IncUnited

States564,375,328 69,000,022 1.77 1.77

PDC Energy IncUnited

States161,117,009 19,698,021 0.58 0.58

Peace Map Holding Ltd Hong Kong 2,728,368 333,568 0.3 0.3

Perdana Petroleum Bhd Malaysia 743,862 90,944 0.15 0.15

Petra Energy Bhd Malaysia 7,356,798 899,436 1.37 1.37

Petrobras Distribuidora SA Brazil 613,428,598 74,997,231 1.25 1.25

PetroChina Co Ltd China 1,511,002,050 184,733,756 0.14 0.14

Petrofac LtdUnited

Kingdom428,725,858 52,415,639 2.2 2.2

Petroleo Brasileiro SA Brazil 3,569,709,935 436,429,537 0.4 0.68

Petrolimex Petrochemical JSC Vietnam 13,956,975 1,706,367 1.92 1.92

Petrol DD Ljubljana Slovenia 29,983,832 3,665,796 0.42 0.42

PetroVietnam Gas JSC Vietnam 206,630,223 25,262,426 0.31 0.31

PetroVietnam Technical Services Corp Vietnam 91,566,372 11,194,823 2.41 2.41

Peyto Exploration & Development Corp Canada 200,384,734 24,498,858 1.24 1.24

Phillips 66United

States3,546,505,833 433,592,624 0.85 0.85

Pilipinas Shell Petroleum Corp Philippines 142,028,989 17,364,337 0.88 0.88

Pioneer Natural Resources CoUnited

States2,043,120,075 249,790,029 0.85 0.85

Polskie Gornictwo Naftowe i

Gazownictwo SAPoland 208,196,507 25,453,918 0.24 0.24

PrairieSky Royalty Ltd Canada 379,585,377 46,407,768 0.77 0.77

Precision Drilling Corp Canada 75,592,704 9,241,896 1.04 1.04

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017338

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Premier Oil PLCUnited

Kingdom134,425,900 16,434,790 3.04 3.04

President Energy PLCUnited

Kingdom25,487,100 3,116,030 2.26 2.26

PTG Energy PCL Thailand 15,046,089 1,839,521 0.16 0.16

PTT Exploration & Production PCL Thailand 416,032,881 50,863,807 0.42 0.42

PTT PCL Thailand 1,262,866,524 154,396,929 0.4 0.4

QEP Resources IncUnited

States200,953,000 24,568,334 1.07 1.07

QGEP Participacoes SA Brazil 47,280,863 5,780,516 0.67 0.67

Raging River Exploration Inc Canada 137,616,599 16,824,882 1.14 1.14

Ranger Energy Services IncUnited

States3,774,770 461,500 0.59 0.33

Range Resources CorpUnited

States12,395,313 1,515,440 0.04 0.04

Reach Energy Bhd Malaysia 26,820,147 3,279,007 2.53 2.53

Refineria La Pampilla SAA Relapasa Peru 6,754,537 825,804 0.24 0.24

Reliance Industries Ltd India 1,383,784,697 169,180,277 0.18 0.18

Renaissance Services SAOG Oman 52,997,692 6,479,450 2.33 2.33

Renewable Energy Group IncUnited

States111,628,471 13,647,597 2.98 2.98

Repsol SA Spain 2,852,310,962 348,720,982 1.29 1.29

REX American Resources CorpUnited

States75,190,746 9,192,753 1.69 1.69

Rowan Cos PlcUnited

States300,965,606 36,795,785 1.86 1.86

Royal Dutch Shell PLCUnited

Kingdom50,257,519,033 6,144,439,232 2.19 2.19

RPC IncUnited

States13,786,844 1,685,567 0.03 0.03

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017339

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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RSP Permian IncUnited

States147,963,022 18,089,826 0.28 0.28

Saipem SpA Italy 747,679,326 91,410,604 1.98 1.98

Santos Ltd Australia 671,861,467 82,141,181 0.93 0.93

San-Ai Oil Co Ltd Japan 91,245,515 11,155,595 1.08 1.08

Sapura Energy Bhd Malaysia 81,297,143 9,939,316 0.95 0.95

Saras SpA Italy 492,050,038 60,157,597 2.63 2.63

Saratovskiy Neftepererabatyvayuschiy

Zavod PJSCRussia 3,169,412 387,489 0.33 0.25

SBM Offshore NV Netherlands 234,189,426 28,631,789 0.79 0.79

Schlumberger LtdUnited

States7,063,523,112 863,580,005 0.93 0.93

Schoeller-Bleckmann Oilfield Equipment

AGAustria 138,192,703 16,895,316 1.03 1.03

Scomi Group Bhd Malaysia 9,094,510 1,111,887 1.53 1.53

Secure Energy Services Inc Canada 205,048,887 25,069,093 2.2 2.2

Sembcorp Industries Ltd Singapore 382,715,863 46,790,498 1.16 1.16

Sembcorp Marine Ltd Singapore 104,765,551 12,808,542 0.45 0.45

SemGroup CorpUnited

States51,578,747 6,305,971 0.27 0.27

Senex Energy Ltd Australia 42,584,276 5,206,315 1.19 1.19

Serba Dinamik Holdings Bhd Malaysia 64,650,359 7,904,095 0.74 0.74

Seven Generations Energy Ltd Canada 288,426,386 35,262,751 0.7 0.7

SEACOR Holdings IncUnited

States103,848,323 12,696,403 1.54 1.54

SEACOR Marine Holdings IncUnited

States18,913,065 2,312,294 1.12 1.12

ShawCor Ltd Canada 268,614,412 32,840,557 2.15 2.15

Showa Shell Sekiyu KK Japan 308,655,333 37,735,924 0.74 0.74

Siemens Gamesa Renewable Energy

SASpain 1,276,298,103 156,039,062 1.72 1.72

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017340

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Sinanen Holdings Co Ltd Japan 23,690,011 2,896,319 0.8 0.8

Sinopec Kantons Holdings Ltd China 184,935,989 22,610,108 1.41 1.41

Sinopec Oilfield Service Corp China 13,553,114 1,656,992 0.07 0.07

Sino Gas & Energy Holdings Ltd Australia 8,912,214 1,089,599 0.43 0.43

Sino Oil And Gas Holdings Ltd Hong Kong 5,915,754 723,255 0.24 0.24

SK Innovation Co Ltd South Korea 1,443,568,668 176,489,412 1 0.99

SMA Solar Technology AG Germany 196,500,770 24,024,008 1.6 1.6

SM Energy CoUnited

States155,174,451 18,971,489 0.77 0.77

Societatea Nationala de Gaze Naturale

ROMGAZ SARomania 51,794,565 6,332,357 0.2 0.2

SolarEdge Technologies IncUnited

States257,884,332 31,528,707 1.95 1.95

Solaris Oilfield Infrastructure IncUnited

States17,511,988 2,141,000 0.21 0.13

Solartech Energy Corp Taiwan 47,784,873 5,842,136 3.11 3.11

Southwestern Energy CoUnited

States323,267,616 39,522,409 1.38 1.38

SPT Energy Group Inc Hong Kong 1,047,360 128,049 0.12 0.12

SRC Energy IncUnited

States49,846,306 6,094,165 0.3 0.3

Star Petroleum Refining PCL Thailand 7,047,849 861,664 0.04 0.04

Suncor Energy Inc Canada 4,526,788,056 553,441,051 0.91 0.91

Sundance Energy Australia Ltd Australia 1,784,418 218,161 0.3 0.3

SunPower CorpUnited

States73,323,748 8,964,496 0.76 0.76

Superior Energy Services IncUnited

States188,401,942 23,033,853 1.56 1.56

Surgutneftegas OJSC Russia 1,414,274,762 172,907,965 0.32 0.7

Susco PCL Thailand 30,717,355 3,755,476 2.99 2.99

S-Oil Corp South Korea 719,196,098 87,928,270 0.65 0.7

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017341

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Targa Resources CorpUnited

States594,686,792 72,705,874 0.7 0.7

TechnipFMC PLC France 2,210,774,029 270,287,251 1.86 1.86

Tecnicas Reunidas SA Spain 413,120,223 50,507,708 2.84 2.84

Tethys Oil AB Sweden 22,926,273 2,802,946 0.98 0.98

Thai Oil PCL Thailand 262,665,629 32,113,264 0.5 0.5

Titan Petrochemicals Group Ltd Hong Kong 510,831 62,454 0.1 0.1

Toa Oil Co Ltd Japan 12,137,385 1,483,906 0.81 0.81

Tourmaline Oil Corp Canada 172,923,594 21,141,484 0.43 0.43

TORC Oil & Gas Ltd Canada 62,032,306 7,584,014 0.64 0.64

TOTAL SA France 20,449,192,002 2,500,099,886 1.68 1.79

TPI Composites IncUnited

States51,980,763 6,355,122 0.91 0.91

TransCanada Corp Canada 3,297,368,818 403,133,356 0.94 0.94

Transgaz SA Medias Romania 40,951,683 5,006,716 0.43 0.43

Transneft PJSC Russia 116,012,420 14,183,575 0.29 0.29

Transocean LtdUnited

States370,757,092 45,328,430 1.08 1.08

Tullow Oil PLCUnited

Kingdom434,779,523 53,155,755 1.37 1.37

Tupras Turkiye Petrol Rafinerileri AS Turkey 705,352,852 86,235,808 1.07 1.07

Unit CorpUnited

States229,925,798 28,110,522 2.42 2.42

Uzma Bhd Malaysia 13,413,827 1,639,962 1.62 1.62

Valero Energy CorpUnited

States3,591,349,061 439,075,117 1.09 1.09

Vermilion Energy Inc Canada 220,215,024 26,923,291 0.61 0.61

Vestas Wind Systems A/S Denmark 3,399,156,007 415,577,767 2.79 2.79

Vietnam National Petroleum Group Vietnam 38,629,305 4,722,784 0.12 0.12

Weatherford International PLCUnited

States232,674,711 28,446,602 0.69 0.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017342

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Whitecap Resources Inc Canada 359,916,454 44,003,063 1.47 1.47

Whiting Petroleum CorpUnited

States197,518,510 24,148,436 1.01 1.01

Williams Cos Inc/TheUnited

States1,966,336,860 240,402,582 0.95 0.95

Wison Engineering Services Co Ltd China 38,802,312 4,743,936 0.53 0.53

Woodside Petroleum Ltd Australia 2,225,539,605 272,092,477 1.25 1.25

WorleyParsons Ltd Australia 231,961,533 28,359,409 0.92 0.92

WPX Energy IncUnited

States344,860,461 42,162,331 0.75 0.75

Xinjiang Goldwind Science &

Technology Co LtdChina 52,202,727 6,382,259 0.11 0.11

Xinyi Solar Holdings Ltd Hong Kong 94,665,221 11,573,685 0.4 0.4

Yanchang Petroleum International Ltd Hong Kong 11,292,375 1,380,596 0.8 0.8

Z Energy LtdNew

Zealand171,668,194 20,988,000 0.96 0.96

TECHNOLOGY

21Vianet Group Inc China 45,897,150 5,611,344 0.19 0.63

2U IncUnited

States46,614,172 5,699,007 0.17 0.17

3D Systems CorpUnited

States6,102,460 746,081 0.08 0.08

ams AG Switzerland 688,865,693 84,220,102 1.1 1.1

athenahealth IncUnited

States366,403,508 44,796,164 0.84 0.84

auFeminin SA France 5,605,950 685,378 0.16 0.16

Acando AB Sweden 2,368,833 289,611 0.06 0.08

Accton Technology Corp Taiwan 374,963,992 45,842,762 2.33 2.33

Acer Inc Taiwan 214,391,161 26,211,271 1.05 1.05

Aconex Ltd Australia 64,482,452 7,883,567 0.65 0.65

ACES Electronic Co Ltd Taiwan 13,629,910 1,666,381 1.61 1.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017343

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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ACI Worldwide IncUnited

States357,146,347 43,664,392 1.62 1.62

Adobe Systems IncUnited

States5,919,097,610 723,663,569 0.84 0.84

Advanced Energy Industries IncUnited

States348,015,777 42,548,097 1.59 1.59

Advanced Micro Devices IncUnited

States353,436,912 43,210,880 0.44 0.44

Advanced Process Systems Corp South Korea 21,170,585 2,588,297 0.58 0.58

Advanced Semiconductor Engineering

Inc

Taiwan 978,790,576 119,666,059 1.07 1.07

Advanced Wireless Semiconductor Co Taiwan 60,828,461 7,436,833 2.26 2.26

Advantech Co Ltd Taiwan 236,245,812 28,883,201 0.59 0.59

Advantest Corp Japan 60,775,010 7,430,298 0.2 0.2

ADTRAN IncUnited

States205,670,990 25,145,151 2.7 2.7

ADVA Optical Networking SE Germany 69,489,943 8,495,778 2.36 2.36

AEM Holdings Ltd Singapore 11,445,031 1,399,259 0.85 0.85

AfreecaTV Co Ltd South Korea 40,295,320 4,926,470 2.43 2.43

Ahnlab Inc South Korea 42,125,266 5,150,197 1.03 1.03

Ai Holdings Corp Japan 170,586,776 20,855,786 1.52 1.52

AIXTRON SE Germany 34,164,708 4,176,947 0.27 0.27

Akamai Technologies IncUnited

States605,402,567 74,015,975 0.67 0.67

Alarm.com Holdings IncUnited

States108,712,831 13,291,133 0.75 0.75

Albert Technologies Ltd Israel 2,544,631 311,104 1.45 1.45

Alfa Financial Software Holdings PLCUnited

Kingdom48,070,515 5,877,058 0.27 0.27

Alibaba Health Information Technology

LtdChina 36,460,797 4,457,664 0.09 0.09

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017344

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Allot Communications Ltd Israel 6,565,121 802,646 0.45 0.45

Allscripts Healthcare Solutions IncUnited

States291,679,060 35,660,420 1.36 1.36

Alphabet IncUnited

States47,892,294,318 5,855,268,978 0.43 0.8

Alpha Networks Inc Taiwan 37,577,891 4,594,239 1.29 1.29

Alpha Systems Inc Japan 17,483,150 2,137,474 0.66 0.66

Altaba IncUnited

States2,516,099,316 307,616,047 0.5 0.5

Alten SA France 627,360,758 76,700,564 2.36 2.71

Altium Ltd Australia 130,135,207 15,910,214 1.18 1.18

Altran Technologies SA France 658,999,602 80,568,701 2.61 2.75

ALI Corp Taiwan 18,008,625 2,201,718 1.28 1.28

ALSO Holding AG Switzerland 121,131,599 14,809,441 0.84 0.84

Amdocs LtdUnited

States750,350,815 91,737,218 0.97 0.97

Amino Technologies PLCUnited

Kingdom21,246,563 2,597,586 1.37 1.37

Amkor Technology IncUnited

States151,456,074 18,516,884 0.77 0.77

Analog Devices IncUnited

States2,163,899,262 264,556,384 0.81 0.81

Anapass Inc South Korea 5,716,434 698,886 0.33 0.33

Anritsu Corp Japan 244,726,610 29,920,056 1.92 1.92

ANSYS IncUnited

States1,083,674,180 132,489,034 1.06 1.06

AOI Electronics Co Ltd Japan 80,014,589 9,782,512 1.58 1.58

Appian CorpUnited

States2,059,888 251,840 0.01

Apple IncUnited

States66,029,049,771 8,072,652,444 0.94 0.94

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017345

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Applied Materials IncUnited

States4,022,649,161 491,805,481 0.91 0.91

APS Holdings Corp South Korea 3,428,732 419,194 0.5 0.5

APT Satellite Holdings Ltd Hong Kong 19,587,047 2,394,695 0.59 0.59

Ardentec Corp Taiwan 105,252,547 12,868,082 2.1 2.1

Argo Graphics Inc Japan 5,331,099 651,775 0.19 0.19

Arista Networks IncUnited

States219,126,076 26,790,158 0.16 0.16

Armada PJSC Russia 447,876 54,757 2.1 2.1

ARRIS International PLCUnited

States294,636,160 36,021,953 0.75 0.75

Ascom Holding AG Switzerland 229,114,278 28,011,306 3.01 3.01

Aselsan Elektronik Sanayi Ve Ticaret

ASTurkey 210,680,610 25,757,623 0.31 0.31

Aspen Technology IncUnited

States397,535,376 48,602,319 1.01 1.01

Asustek Computer Inc Taiwan 853,361,216 104,331,177 1.5 1.5

ASML Holding NV Netherlands 11,650,420,215 1,424,369,933 1.88 1.88

ASM International NV Netherlands 634,482,795 77,571,298 1.84 1.84

ASM Pacific Technology Ltd Hong Kong 435,287,295 53,217,835 0.93 0.93

ASPEED Technology Inc Taiwan 23,089,688 2,822,925 0.34 0.34

Ateam Inc Japan 21,408,477 2,617,381 0.55 0.55

Aten International Co Ltd Taiwan 60,209,287 7,361,133 2.18 2.18

Atlassian Corp PLCUnited

States242,066,456 29,594,828 0.05 0.28

Atos SE France 2,461,972,833 300,998,592 1.96 1.96

Aubay France 46,217,290 5,650,484 1.04 1.04

AudioCodes Ltd Israel 27,731,123 3,390,382 1.47 1.47

Autodesk IncUnited

States1,176,084,439 143,787,029 0.62 0.62

Autohome Inc China 173,238,691 21,180,007 0.28 0.28

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017346

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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AU Optronics Corp Taiwan 422,975,417 51,712,595 1.29 1.29

Avermedia Technologies Taiwan 1,024,229 125,221 0.14 0.14

AVEVA Group PLCUnited

Kingdom574,439,455 70,230,453 2.93 2.93

Axcelis Technologies IncUnited

States127,657,249 15,607,261 1.73 1.73

Axell Corp Japan 2,300,637 281,274 0.34 0.34

Axway Software SA France 14,768,593 1,805,595 0.19 0.31

A-DATA Technology Co Ltd Taiwan 86,021,587 10,516,922 1.93 1.93

Babylon Ltd Israel 1,336,711 163,425 0.74 0.74

Baidu Inc China 3,461,136,157 423,155,404 0.18 0.52

Bandwidth IncUnited

States15,128,526 1,849,600 0.06 0.45

Bangladesh Submarine Cable Co Ltd Bangladesh 23,594,252 2,884,612 1.41 1.41

Baozun Inc China 47,945,944 5,861,828 0.21 1.13

Barracuda Networks Inc United

States154,160,156 18,847,482 1.28 1.28

BayCurrent Consulting Inc Japan 69,885,955 8,544,194 1.91 1.91

Bechtle AG Germany 606,533,087 74,154,192 2.11 2.11

Beijing Shiji Information Technology Co

LtdChina 169,130,077 20,677,692 0.47 0.47

Beijing Thunisoft Corp Ltd China 60,343,812 7,377,580 0.42 0.42

BE Semiconductor Industries NV Netherlands 797,680,076 97,523,651 2.9 2.9

Bixolon Co Ltd South Korea 3,593,493 439,337 0.37 0.37

Blackbaud IncUnited

States477,753,784 58,409,749 1.29 1.29

BlackBerry Ltd Canada 41,521,605 5,076,394 0.08 0.08

Blucora IncUnited

States219,292,681 26,810,527 2.63 2.63

Bluecom Co Ltd South Korea 3,896,245 476,351 0.39 0.39

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017347

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Bottomline Technologies de IncUnited

States260,631,500 31,864,574 2.27 2.27

Bravura Solutions Ltd Australia 21,656,623 2,647,719 0.91 0.91

Broadcom LtdUnited

States6,595,215,155 806,325,094 0.77 0.77

Broadleaf Co Ltd Japan 101,653,613 12,428,080 2.73 2.73

BroadSoft IncUnited

States47,438,151 5,799,746 0.33 0.33

Brooks Automation IncUnited

States248,573,990 30,390,433 1.81 1.81

Brother Industries Ltd Japan 1,012,144,907 123,743,929 1.91 1.91

BYD Electronic International Co Ltd China 208,142,981 25,447,374 0.52 0.52

B Communications Ltd Israel 6,394,635 781,802 0.14 0.14

Cabot Microelectronics CorpUnited

States496,150,592 60,658,927 2.54 2.54

Cadence Design Systems IncUnited

States1,104,303,061 135,011,103 1.14 1.14

Callidus Software IncUnited

States118,121,306 14,441,405 0.74 0.74

Canon Electronics Inc Japan 83,032,991 10,151,539 1.1 1.1

Canon Inc Japan 3,708,240,377 453,366,145 0.91 0.91

Canon Marketing Japan Inc Japan 336,503,460 41,140,611 1.01 1.01

Capcom Co Ltd Japan 131,552,843 16,083,533 0.75 0.75

Capgemini SE France 3,354,421,683 410,108,588 2.05 2.05

Capital Appreciation Ltd South Africa 17,600,798 2,151,858 2.38 2.38

Casa Systems IncUnited

States10,894,894 1,332,000 0.09 0.09

Cavium IncUnited

States122,432,741 14,968,517 0.26 0.26

CACI International IncUnited

States540,266,057 66,052,444 2.03 2.03

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017348

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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CAC Holdings Corp Japan 24,659,748 3,014,879 1.49 1.49

CA IncUnited

States853,063,897 104,294,828 0.75 0.75

CDK Global IncUnited

States620,215,756 75,827,022 0.77 0.77

CDW Corp/DEUnited

States541,360,965 66,186,306 0.62 0.62

Ceragon Networks LtdUnited

States44,147,117 5,397,387 3.5 3.5

Cerner CorpUnited

States1,350,305,192 165,087,103 0.74 0.74

CENIT AG Germany 16,751,265 2,047,995 0.95 0.95

CEVA IncUnited

States99,916,275 12,215,674 1.2 1.2

CGI Group Inc Canada 1,064,714,943 130,171,095 0.41 0.83

Check Point Software Technologies LtdUnited

States1,046,148,443 127,901,171 0.76 0.76

Chicony Electronics Co Ltd Taiwan 206,794,551 25,282,516 1.39 1.39

Chinasoft International Ltd China 77,925,800 9,527,138 0.6 0.6

China Communications Services Corp

LtdChina 265,559,333 32,467,046 0.7 0.7

China Goldjoy Group Ltd Hong Kong 32,672,199 3,994,474 0.19 0.19

Chipbond Technology Corp Taiwan 221,098,192 27,031,267 2.2 2.2

Chunghwa Picture Tubes Ltd Taiwan 20,472,971 2,503,007 0.5 0.5

Chunghwa Precision Test Tech Co Ltd Taiwan 29,897,635 3,655,258 0.29 0.29

Ciena CorpUnited

States227,482,487 27,811,805 0.92 0.92

Cirrus Logic IncUnited

States433,396,001 52,986,607 1.6 1.6

Cisco Systems IncUnited

States13,547,571,181 1,656,313,910 0.87 0.87

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017349

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Citrix Systems IncUnited

States1,606,039,845 196,352,992 1.48 1.48

Clevo Co Taiwan 73,258,692 8,956,542 1.35 1.35

CMC Magnetics Corp Taiwan 41,625,687 5,089,119 1.95 1.95

Codan Ltd/Australia Australia 7,948,797 971,813 0.31 0.31

Cogent Communications Holdings IncUnited

States170,001,853 20,784,274 1 1

Cognizant Technology Solutions CorpUnited

States2,856,336,016 349,213,081 0.83 0.83

Comba Telecom Systems Holdings Ltd China 25,195,909 3,080,429 0.65 0.65

CommerceHub IncUnited

States204,136,307 24,957,522 0.49 2.78

CommScope Holding Co IncUnited

States484,075,932 59,182,690 0.82 0.82

CommVault Systems IncUnited

States258,736,806 31,632,930 1.3 1.3

Compal Electronics Inc Taiwan 375,211,008 45,872,962 1.45 1.45

CompuGroup Medical SE Germany 177,821,830 21,740,338 0.64 0.64

Computacenter PLCUnited

Kingdom378,014,350 46,215,696 2.42 2.42

Computer Institute of Japan Ltd Japan 2,246,050 274,600 0.2 0.2

Comp SA Poland 24,406,684 2,983,939 2.85 2.85

Constellation Software Inc/Canada Canada 1,079,177,942 131,939,328 1.02 1.02

Coolpad Group Ltd China 18,252,218 2,231,500 0.96 0.96

Cornerstone OnDemand IncUnited

States83,804,322 10,245,841 0.5 0.5

Corning IncUnited

States2,156,616,715 263,666,027 0.95 0.95

COL PCL Thailand 105,323,925 12,876,809 1.93 1.93

CORE Education & Technologies Ltd India 213 26 0.83 0.83

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017350

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Craneware PLCUnited

Kingdom11,332,337 1,385,481 0.26 0.26

Cray IncUnited

States31,342,654 3,831,925 0.39 0.39

Cree IncUnited

States214,509,223 26,225,705 0.72 0.72

Cresco Ltd Japan 4,170,706 509,907 0.1 0.1

CrucialTec Co Ltd South Korea 401,731 49,115 0.06 0.06

CROOZ Inc Japan 53,948,711 6,595,721 2.32 2.32

CSE Global Ltd Singapore 24,778,626 3,029,413 2.15 2.15

CSF Group PLC Malaysia 337,194 41,225 1.44 1.44

CSG Ltd Australia 9,458,464 1,156,383 1.01 1.01

CSG Systems International IncUnited

States323,596,908 39,562,668 2.69 2.69

CSRA IncUnited

States125,838,922 15,384,954 0.31 0.31

CUROCOM Co Ltd South Korea 162,541 19,872 0.01 0.01

CyberAgent Inc Japan 437,013,256 53,428,849 1.08 1.08

CyberArk Software LtdUnited

States126,688,995 15,488,883 1.08 1.08

Cyberlink Corp Taiwan 15,818,331 1,933,935 0.99 0.99

CyberTAN Technology Inc Taiwan 45,891,023 5,610,595 2.8 2.8

Cybozu Inc Japan 11,375,207 1,390,723 0.54 0.54

Cyient Ltd India 222,854,167 27,245,951 2.65 2.65

Cypress Semiconductor CorpUnited

States353,157,616 43,176,734 0.85 0.85

Dagang NeXchange Bhd Malaysia 41,049,813 5,018,713 2.39 2.39

Dai-ichi Seiko Co Ltd Japan 59,249,351 7,243,773 1.62 1.62

Daou Data Corp South Korea 1,474,122 180,225 0.05 0.05

Daou Technology Inc South Korea 61,636,317 7,535,601 0.93 0.93

Dassault Systemes SE France 2,223,643,613 271,860,675 0.66 0.98

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017351

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Datagate Bilgisayar Malzemeleri TAS Turkey 11,146,375 1,362,746 1.65 1.65

DataTec Ltd South Africa 233,533,445 28,551,590 2.92 2.92

DB HiTek Co Ltd South Korea 71,426,206 8,732,504 1.76 1.75

Dell Technologies Inc Class VUnited

States1,572,413,880 192,241,912 1.16 1.16

Denki Kogyo Co Ltd Japan 56,093,785 6,857,976 1.72 1.72

Descartes Systems Group Inc/The Canada 270,419,979 33,061,304 1.51 1.51

Devoteam SA France 51,461,130 6,291,592 0.84 0.84

Dialog Semiconductor PLC Germany 693,516,267 84,788,677 3.56 3.56

Diebold Nixdorf AG Germany 174,113,544 21,286,966 0.72 0.72

Diebold Nixdorf IncUnited

States37,425,406 4,575,597 0.37 0.37

Digimarc CorpUnited

States25,745,458 3,147,617 0.77 0.77

Digital Arts Inc Japan 171,924,487 21,019,334 3.72 3.72

Digital China Holdings Ltd China 69,157,402 8,455,122 0.74 0.74

Digital Garage Inc Japan 253,051,830 30,937,890 2.47 2.47

Digital Telecommunications

Infrastructure FundThailand 13,710,593 1,676,245 0.06 0.06

Diodes IncUnited

States338,455,044 41,379,210 2.92 2.92

Disway Morocco 10,609,019 1,297,049 1.59 1.59

Douzone Bizon Co Ltd South Korea 234,468,085 28,665,858 3.11 3.11

DSP Group IncUnited

States26,878,060 3,286,087 1.18 1.18

DST Systems IncUnited

States396,140,589 48,431,793 1.3 1.3

DTS Corp Japan 151,916,410 18,573,164 2.26 2.26

Duksan Hi-Metal Co Ltd South Korea 2,605,026 318,488 0.19 0.19

DXC Technology CoUnited

States1,862,248,011 227,676,773 0.84 0.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017352

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Dycom Industries IncUnited

States151,815,146 18,560,784 0.54 0.54

D-Link Corp Taiwan 32,022,612 3,915,056 1.69 1.69

eClerx Services Ltd India 9,814,478 1,199,909 0.12 0.12

eMemory Technology Inc Taiwan 90,722,523 11,091,654 1.02 1.02

Earthport PLCUnited

Kingdom19,934,227 2,437,141 2.83 2.83

Eastern Communications Co Ltd China 15,609,259 1,908,374 0.23 0.23

EchoStar CorpUnited

States276,536,114 33,809,057 0.11 0.59

Econocom Group SA/NV Belgium 229,506,724 28,059,286 1.6 1.6

Eizo Corp Japan 193,700,944 23,681,704 2.21 2.21

Ei Towers SpA Italy 90,034,112 11,007,490 0.61 0.61

Elan Microelectronics Corp Taiwan 75,687,171 9,253,446 1.38 1.38

Elecom Co Ltd Japan 253,934,111 31,045,757 3.38 3.38

Electronics For Imaging IncUnited

States145,641,018 17,805,940 1.32 1.32

Elitegroup Computer Systems Co Ltd Taiwan 55,699,314 6,809,748 1.83 1.83

Elite Semiconductor Memory

Technology IncTaiwan 65,117,273 7,961,179 1.95 1.95

Ellie Mae IncUnited

States382,141,368 46,720,261 1.51 1.51

Elmos Semiconductor AG Germany 35,296,644 4,315,336 0.77 0.77

Elsoft Research Bhd Malaysia 14,448,346 1,766,442 0.96 0.96

EM Systems Co Ltd Japan 1,697,435 207,527 0.05 0.05

Endurance International Group Holdings

Inc

United

States97,583,899 11,930,520 0.99 0.99

Enea AB Sweden 66,315 8,108 0

Enghouse Systems Ltd Canada 154,580,263 18,898,844 1.43 1.43

Ennoconn Corp Taiwan 4,382,934 535,854 0.05 0.05

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017353

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Entegris IncUnited

States577,365,472 70,588,185 1.64 1.64

Envestnet IncUnited

States188,425,900 23,036,782 1.04 1.04

Eo Technics Co Ltd South Korea 113,480,943 13,874,078 1.11 1.11

EOH Holdings Ltd South Africa 294,598,027 36,017,291 4.35 4.35

Epistar Corp Taiwan 216,635,434 26,485,654 1.6 1.6

EPAM Systems IncUnited

States481,566,897 58,875,937 1.04 1.04

Esker SA France 45,645,474 5,580,575 1.36 1.66

Esprinet SpA Italy 36,079,370 4,411,031 1.7 1.7

ESI Group France 23,292,312 2,847,697 0.62 0.85

Etron Technology Inc Taiwan 8,584,478 1,049,531 0.46 0.46

EVOLIS France 7,227,358 883,610 0.32 0.32

Excel Force MSC Bhd Malaysia 31,503,129 3,851,544 2.35 2.35

Extreme Networks IncUnited

States16,076,121 1,965,452 0.14 0.14

E-Guardian Inc Japan 8,457,949 1,034,061 0.41 0.41

F5 Networks IncUnited

States1,028,174,088 125,703,642 1.53 1.53

Facebook IncUnited

States29,759,329,730 3,638,348,980 0.27 0.71

Fair Isaac CorpUnited

States479,470,896 58,619,682 1.28 1.28

Faraday Technology Corp Taiwan 30,488,148 3,727,454 0.77 0.77

FDM Group Holdings PLCUnited

Kingdom70,935,539 8,672,515 0.64 0.64

Ferrotec Holdings Corp Japan 27,922,332 3,413,759 0.45 0.45

Fiberhome Telecommunication

Technologies Co LtdChina 403,435,575 49,323,672 1 1

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017354

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Fidessa Group PLCUnited

Kingdom273,936,513 33,491,233 2.53 2.53

Finisar CorpUnited

States141,818,036 17,338,546 0.75 0.75

FireEye IncUnited

States104,842,321 12,817,928 0.49 0.49

Firich Enterprises Co Ltd Taiwan 5,722,460 699,623 0.2 0.2

Fixstars Corp Japan 25,317,720 3,095,322 0.88 0.88

FIH Mobile Ltd Hong Kong 104,801,211 12,812,902 0.52 0.52

Flytech Technology Co Ltd Taiwan 33,946,343 4,150,249 1.03 1.03

Focus Media Information Technology Co

LtdChina 215,217,197 26,312,262 0.1 0.1

ForeScout Technologies IncUnited

States13,041,974 1,594,500 0.13 0.13

FormFactor IncUnited

States133,960,681 16,377,913 1.43 1.43

Formula Systems 1985 Ltd Israel 228,869 27,981 0

Forrester Research IncUnited

States164,775,091 20,145,255 2.54 2.54

Fortinet IncUnited

States156,297,064 19,108,739 0.25 0.25

Fortnox AB Sweden 71,474,782 8,738,443 2.78 2.78

Fujitsu Frontech Ltd Japan 72,905,017 8,913,302 2.1 2.1

Fujitsu Ltd Japan 2,246,269,120 274,626,849 1.86 1.86

Fuji Soft Inc Japan 85,450,208 10,447,066 0.96 0.96

Fukui Computer Holdings Inc Japan 70,615,634 8,633,404 1.31 1.31

Furuya Metal Co Ltd Japan 33,903,096 4,144,962 1.46 1.46

Future Corp Japan 84,933,991 10,383,954 2.01 2.01

FUJIFILM Holdings Corp Japan 1,940,552,144 237,250,166 1.13 1.13

F-Secure OYJ Finland 166,629,865 20,372,018 2.75 2.75

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017355

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Garmin LtdUnited

States1,314,479,229 160,707,052 1.44 1.44

Gartner IncUnited

States906,087,854 110,777,489 0.99 0.99

Gemalto NV Netherlands 1,164,496,226 142,370,265 2.65 2.65

Gemtek Technology Corp Taiwan 58,044,190 7,096,431 2.61 2.61

Getac Technology Corp Taiwan 109,204,718 13,351,271 1.58 1.58

GFT Technologies SE Germany 128 16 0

GHL Systems Bhd Malaysia 19,937,031 2,437,484 0.99 0.99

Gigabyte Technology Co Ltd Taiwan 200,343,910 24,493,867 2.13 2.13

Gilat Satellite Networks Ltd Israel 46,064,687 5,631,827 1.32 1.32

Globalwafers Co Ltd Taiwan 158,748,817 19,408,488 0.33 0.33

Global Mixed Mode Technology Inc Taiwan 37,490,598 4,583,567 2.35 2.35

Global Unichip Corp Taiwan 175,607,979 21,469,674 1.87 1.87

Globant SAUnited

States8,786,271 1,074,202 0.07 0.07

Globetronics Technology BHD Malaysia 61,548,366 7,524,848 1.62 1.62

Glodon Co Ltd China 224,999,464 27,508,233 0.82 0.82

GMO Cloud K.K. Japan 35,558,454 4,347,345 1.78 1.78

GMO internet Inc Japan 76,638,307 9,369,731 0.48 0.48

GoDaddy IncUnited

States700,605,077 85,655,349 1.02 1.02

GoerTek Inc China 635,789,621 77,731,069 0.9 0.9

Gogo IncUnited

States27,871,935 3,407,598 0.35 0.35

Goldbach Group AG Switzerland 8,816,522 1,077,900 0.48 0.48

Grace Technology Inc Japan 66,774,135 8,163,746 2.61 2.61

Greatek Electronics Inc Taiwan 131,988,186 16,136,757 1.62 1.62

Green Packet Bhd Malaysia 23,505,101 2,873,713 2.82 2.82

Grupo Ezentis SA Spain 35,679,495 4,362,143 2.01 2.01

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017356

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Guidewire Software IncUnited

States256,519,585 31,361,855 0.56 0.56

Hancom Inc South Korea 34,330,553 4,197,223 1.08 1.08

HannStar Display Corp Taiwan 180,047,221 22,012,412 2.04 2.04

HansaMatrix AS Latvia 1,881,064 229,977 1.31 1.31

Harris CorpUnited

States1,349,376,180 164,973,522 0.98 0.98

HCL Technologies Ltd India 449,059,231 54,901,579 0.28 0.28

Hewlett Packard Enterprise Co

United

States 1,942,824,521 237,527,985 1.04 1.04

Hexagon AB Sweden 1,766,859,914 216,014,709 0.96 1.33

Hexaware Technologies Ltd India 37,249,817 4,554,129 0.28 0.28

Hightech Payment Systems SA Morocco 29,386,362 3,592,750 2.84 2.84

Hilan Ltd Israel 10,489,240 1,282,405 0.25 0.25

Hitachi High-Technologies Corp Japan 380,138,276 46,475,365 0.8 0.8

Hitachi Kokusai Electric Inc Japan 162,110,792 19,819,520 0.68 0.68

Hi Sun Technology China Ltd China 70,934,121 8,672,342 1.6 1.6

HIQ International AB Sweden 24,382,187 2,980,944 0.71 0.71

HKBN Ltd Hong Kong 92,019,984 11,250,281 0.89 0.89

Holtek Semiconductor Inc Taiwan 47,880,634 5,853,843 1.12 1.12

HP IncUnited

States2,869,340,891 350,803,046 1.01 1.01

HTC Corp Taiwan 162,493,878 19,866,356 0.99 0.99

Hua Hong Semiconductor Ltd China 261,502,020 31,971,003 1.45 1.45

Huber Suhner AG Switzerland 262,540,024 32,097,908 3.06 3.06

HubSpot IncUnited

States276,329,754 33,783,828 1.02 1.02

iSentia Group Ltd Australia 24,331,261 2,974,718 1.38 1.38

IAC/InterActiveCorpUnited

States841,226,756 102,847,629 0.63 1.03

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017357

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Ichor Holdings LtdUnited

States15,015,849 1,835,824 0.29 0.29

Icom Inc Japan 30,933,916 3,781,953 1.09 1.09

IEI Integration Corp Taiwan 37,914,779 4,635,427 1.07 1.07

Iflytek Co Ltd China 40,378,334 4,936,619 0.04 0.04

Iliad SA France 1,196,916,239 146,333,907 0.67 1.03

Inari Amertron Bhd Malaysia 252,043,570 30,814,621 1.79 1.79

Indeks Bilgisayar Sistemleri Muhendislik

Sanayi ve Ticaret ASTurkey 41,015,042 5,014,462 2.95 2.95

Indra Sistemas SA Spain 574,993,201 70,298,153 2.91 2.91

Ines Corp Japan 29,003,277 3,545,915 1.19 1.19

Infineon Technologies AG Germany 8,822,720,714 1,078,657,927 3.38 3.38

Infinera CorpUnited

States2,722,086 332,800 0.04 0.04

Infocom Corp Japan 27,872,959 3,407,723 0.49 0.49

Information Services International-

Dentsu LtdJapan 179,470,923 21,941,954 2.97 2.97

Infortrend Technology Inc Taiwan 8,336,577 1,019,222 0.75 0.75

Infosys Ltd India 2,363,372,970 288,943,861 0.77 0.77

Infotel SA France 41,148,454 5,030,773 0.77 1.18

Infraware Inc South Korea 578,000 70,666 0.17 0.17

Ingenico Group SA France 880,892,468 107,697,124 1.47 1.62

Innolux Corp Taiwan 422,379,061 51,639,685 1.25 1.25

Innotech Corp Japan 4,532,710 554,165 0.31 0.31

Inphi CorpUnited

States9,104,863 1,113,152 0.07 0.07

Insight Enterprises IncUnited

States135,128,111 16,520,642 1.21 1.21

Inspur International Ltd Hong Kong 10,613,390 1,297,584 0.5 0.5

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017358

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Integrated Device Technology IncUnited

States325,962,927 39,851,935 1.01 1.01

Intel CorpUnited

States16,231,814,070 1,984,487,040 0.92 0.92

InterDigital Inc/PAUnited

States472,279,210 57,740,433 2.18 2.18

International Business Machines CorpUnited

States9,941,698,921 1,215,463,200 0.86 0.86

Internet Initiative Japan Inc Japan 22,873,644 2,796,511 0.33 0.33

InterXion Holding NVUnited

States1,745,147,671 213,360,190 5.08 5.08

Intouch Holdings PCL Thailand 617,803,187 75,532,064 1.36 1.36

Intuit IncUnited

States2,118,664,362 259,026,006 0.64 0.64

Inventec Corp Taiwan 226,097,030 27,642,420 0.97 0.97

INTOPS Co Ltd South Korea 32,236,918 3,941,257 2.29 2.29

IRESS Ltd Australia 145,273,708 17,761,033 1.14 1.14

Isra Vision AG Germany 80,444,319 9,835,050 0.88 0.88

Istyle Inc Japan 158,888,934 19,425,619 3.77 3.77

Itfor Inc Japan 18,385,566 2,247,803 1.01 1.01

Itochu Techno-Solutions Corp Japan 559,887,275 68,451,316 1.31 1.31

Ituran Location and Control Ltd Israel 60,306,685 7,373,041 1.03 1.03

ITE Technology Inc Taiwan 36,816,155 4,501,110 2.33 2.33

I-Net Corp/Kanagawa Japan 21,078,361 2,577,022 1.01 1.01

j2 Global IncUnited

States327,742,231 40,069,471 1.1 1.1

Jasmine International PCL Thailand 2,165,947 264,807 0.02 0.02

Jess-Link Products Co Ltd Taiwan 21,732,326 2,656,975 1.93 1.93

Jiangsu Changjiang Electronics

Technology Co LtdChina 122,554,108 14,983,355 0.34 0.34

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017359

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Juniper Networks IncUnited

States1,177,123,900 143,914,113 1.35 1.35

Justsystems Corp Japan 110,568,370 13,517,990 1.1 1.1

Just Dial Ltd India 8,842,911 1,081,126 0.19 0.19

Jusung Engineering Co Ltd South Korea 99,724,405 12,192,216 1.99 1.99

Ju Teng International Holdings Ltd Hong Kong 71,409,043 8,730,406 2.33 2.33

Kaga Electronics Co Ltd Japan 146,465,907 17,906,790 2.29 2.29

Kakao Corp South Korea 470,036,142 57,466,197 0.66 0.66

Kanematsu Electronics Ltd Japan 109,136,850 13,342,973 1.55 1.55

KC Tech Co Ltd/New South Korea 11,456,990 1,400,721 0.35 0.35

Kesm Industries Bhd Malaysia 15,382,211 1,880,615 0.91 0.91

Kinaxis Inc Canada 147,475,237 18,030,190 1.16 1.16

Kingdee International Software Group

Co LtdChina 360,474,237 44,071,257 2.7 2.7

King Yuan Electronics Co Ltd Taiwan 148,088,850 18,105,210 1.48 1.48

Kinsus Interconnect Technology Corp Taiwan 68,759,462 8,406,470 1.03 1.03

KLab Inc Japan 42,304,991 5,172,170 0.85 0.85

KLA-Tencor CorpUnited

States1,234,188,803 150,890,817 0.92 0.92

KNOW IT AB Sweden 30,430,729 3,720,434 1.02 1.02

Koei Tecmo Holdings Co Ltd Japan 76,943,404 9,407,032 0.43 0.43

Koh Young Technology Inc South Korea 202,607,341 24,770,592 2.35 2.35

Konica Minolta Inc Japan 350,078,341 42,800,264 0.88 0.88

KPIT Technologies Ltd India 31,909,265 3,901,198 0.7 0.7

KPS AG Germany 8,591,614 1,050,403 0.17 0.17

Kudelski SA Switzerland 135,733,747 16,594,686 1.4 1.4

Kulicke & Soffa Industries IncUnited

States380,775,876 46,553,317 2.71 2.71

Laird PLCUnited

Kingdom77,866,369 9,519,872 1.05 1.05

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017360

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Lam Research CorpUnited

States2,286,983,385 279,604,539 0.94 0.94

Lasertec Corp Japan 132,582,693 16,209,441 1.36 1.36

Lattice Semiconductor CorpUnited

States80,886,081 9,889,060 1.39 1.39

Lectra France 147,258,653 18,003,711 1.87 1.89

Legend Holdings Corp China 157,473,983 19,252,628 0.18 0.18

Leidos Holdings IncUnited

States759,526,961 92,859,086 0.95 0.95

Lenovo Group Ltd China 387,439,652 47,368,025 0.7 0.7

LEENO Industrial Inc South Korea 196,164,269 23,982,868 2.93 2.93

LG Display Co Ltd South Korea 656,116,862 80,216,259 0.8 0.8

Lingsen Precision Industries Ltd Taiwan 45,448,900 5,556,542 2.89 2.89

Lite-On Semiconductor Corp Taiwan 40,166,640 4,910,737 1.09 1.09

LINE Corp Japan 159,581,840 19,510,333 0.21 0.21

Logitech International SA Switzerland 972,335,771 118,876,900 2.03 2.03

LogMeIn IncUnited

States555,486,409 67,913,271 1.13 1.13

Logo Yazilim Sanayi Ve Ticaret AS Turkey 82,937,465 10,139,860 2.62 2.62

Loral Space & Communications IncUnited

States47,505,964 5,808,037 0.62 0.43

Lumens Co Ltd South Korea 35,313,802 4,317,434 2.32 2.32

Lumentum Holdings IncUnited

States122,522,876 14,979,537 0.49 0.49

Luxoft Holding IncUnited

States334,647,106 40,913,655 0.54 2.19

Luxshare Precision Industry Co Ltd China 72,148,183 8,820,772 0.08 0.08

Macnica Fuji Electronics Holdings Inc Japan 412,048,479 50,376,678 3.93 3.93

Macronix International Taiwan 231,129,130 28,257,640 1.05 1.05

Malaysian Pacific Industries Bhd Malaysia 71,973,260 8,799,386 1.42 1.42

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017361

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Mamezou Holdings Co Ltd Japan 3,618,954 442,450 0.2 0.2

Manhattan Associates IncUnited

States437,733,236 53,516,873 1.57 1.57

Marvell Technology Group LtdUnited

States602,170,129 73,620,780 0.7 0.7

Maxim Integrated Products IncUnited

States1,596,299,358 195,162,129 1.33 1.33

MaxLinear IncUnited

States291,755,999 35,669,827 1.83 1.83

MCJ Co Ltd Japan 74,719,831 9,135,180 1.71 1.71

MediaTek Inc Taiwan 1,334,713,128 163,180,831 1.04 1.04

Medical Data Vision Co Ltd Japan 6,237,638 762,608 0.19 0.19

Medidata Solutions IncUnited

States310,427,679 37,952,610 1.02 1.02

Megachips Corp Japan 84,791,504 10,366,533 1.5 1.5

Meitu Inc China 519,595,150 63,525,237 1.07 1.07

Melco Holdings Inc Japan 98,615,984 12,056,702 1.58 1.58

Melexis NV Belgium 557,195,768 68,122,255 1.66 1.66

Mellanox Technologies LtdUnited

States980,326,494 119,853,839 3.64 3.64

Mercury Systems IncUnited

States138,287,328 16,906,885 0.68 0.68

Merry Electronics Co Ltd Taiwan 219,806,824 26,873,385 2.05 2.05

Microchip Technology IncUnited

States737,211,216 90,130,783 0.44 0.44

Micron Technology IncUnited

States3,621,560,737 442,768,770 0.93 0.93

Microsemi CorpUnited

States342,139,189 41,829,631 0.69 0.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017362

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Microsoft CorpUnited

States47,549,079,930 5,813,307,895 0.88 0.88

MicroStrategy IncUnited

States219,427,041 26,826,953 0.69 1.78

Micro Focus International PLCUnited

Kingdom1,758,096,787 214,943,337 1.46 1.46

Micro-Star International Co Ltd Taiwan 270,971,051 33,128,678 1.52 1.52

Mimasu Semiconductor Industry Co Ltd Japan 38,110,760 4,659,387 0.68 0.68

Mindtree Ltd India 45,474,831 5,559,712 0.34 0.34

Miroku Jyoho Service Co Ltd Japan 100,299,667 12,262,547 1.31 1.31

Mitac Holdings Corp Taiwan 105,017,808 12,839,383 1.31 1.31

Mitsubishi Research Institute Inc Japan 51,395,215 6,283,533 1.09 1.09

Mitsui High-Tec Inc Japan 96,568,823 11,806,418 1.53 1.53

Mixi Inc Japan 34,131,377 4,172,872 0.12 0.12

MINDBODY IncUnited

States50,508,617 6,175,138 0.25 0.43

MIN AIK Technology Co Ltd Taiwan 9,063,212 1,108,060 0.88 0.88

MKS Instruments IncUnited

States477,601,060 58,391,078 1.14 1.14

Mobile World Investment Corp Vietnam 312,415,411 38,195,628 2.09 2.09

Momo Inc China 383,728,115 46,914,255 2.49 0.49

Monolithic Power Systems IncUnited

States301,240,232 36,829,361 0.79 0.79

Monotype Imaging Holdings IncUnited

States166,340,894 20,336,689 2.02 2.02

Motorola Solutions IncUnited

States1,278,881,952 156,354,961 1.07 1.07

Mphasis Ltd India 28,065,528 3,431,266 0.14 0.14

Muehlbauer Holding AG Germany 12,301,955 1,504,026 0.21 0.21

MYOB Group Ltd Australia 77,480,139 9,472,652 0.55 0.55

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017363

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nanometrics IncUnited

States9,738,561 1,190,628 0.19 0.19

Nanya Technology Corp Taiwan 161,529,677 19,748,473 0.26 0.26

National Agricultural Holdings Ltd China 2,115,697 258,663 0.2 0.2

NAVER Corp South Korea 2,439,972,850 298,308,894 1.11 1.11

NCC Group PLCUnited

Kingdom22,293,101 2,725,534 0.31 0.31

NCR CorpUnited

States398,507,731 48,721,198 1.18 1.18

Nemetschek SE Germany 441,092,332 53,927,553 1.58 1.58

Neopost SA France 336,323,661 41,118,629 4.13 4.13

Nera Telecommunications Ltd Singapore 7,653,320 935,688 0.95 0.95

NetApp IncUnited

States1,566,944,379 191,573,215 1.3 1.3

NetEase Inc China 1,000,586,148 122,330,766 0.27 0.27

NetGem SA France 1,304,662 159,507 0.19 0.19

NetLink NBN Trust Singapore 67,809,003 8,290,268 0.34 0.34

NetScout Systems IncUnited

States312,952,879 38,261,339 1.44 1.44

Neurones France 52,127,540 6,373,066 0.44 0.76

Neusoft Corp China 41,376,156 5,058,612 0.18 0.18

New Japan Radio Co Ltd Japan 30,711,705 3,754,786 1.01 1.01

New Relic IncUnited

States100,953,650 12,342,503 0.39 0.39

New Sports Group Ltd Hong Kong 1,403,907 171,640 0.08 0.08

NEC Capital Solutions Ltd Japan 25,245,982 3,086,551 0.7 0.7

NEC Corp Japan 897,472,326 109,724,162 1.56 1.56

NEC Networks & System Integration

CorpJapan 143,293,205 17,518,899 1.34 1.34

NEOWIZ HOLDINGS Corp South Korea 1,979,690 242,035 0.22 0.22

NEPES Corp South Korea 43,916,258 5,369,162 2.79 2.79

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017364

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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NETGEAR IncUnited

States 250,277,027 30,598,645 1.66 1.66

NET One Systems Co Ltd Japan 304,711,529 37,253,758 2.82 2.82

NEXTDC Ltd Australia 203,614,663 24,893,746 1.84 1.84

Nice Ltd Israel 536,767,419 65,624,704 1.19 1.19

Nihon Unisys Ltd Japan 448,453,033 54,827,466 2.4 2.4

NIC IncUnited

States254,826,668 31,154,880 2.83 2.83

Nokia OYJ Finland 4,024,647,392 492,049,783 1.8 1.8

Nomura Research Institute Ltd Japan 491,281,659 60,063,655 0.49 0.49

Novatek Microelectronics Corp Taiwan 263,900,208 32,264,203 1.39 1.39

Nova Measuring Instruments Ltd Israel 84,886,331 10,378,127 1.41 1.41

NSD Co Ltd Japan 90,034,916 11,007,588 1.09 1.09

NS Solutions Corp Japan 303,493,920 37,104,895 1.36 1.36

NTT Data Corp Japan 858,681,565 104,981,639 0.63 0.63

Nuance Communications IncUnited

States223,509,321 27,326,049 0.58 0.58

Nutanix IncUnited

States26,292,825 3,214,537 0.01 0.06

NVIDIA CorpUnited

States7,862,565,962 961,270,268 0.82 0.82

NXP Semiconductors NVUnited

States2,356,894,555 288,151,816 0.73 0.73

Obic Co Ltd Japan 201,762,232 24,667,270 0.34 0.34

OBIC Business Consultants Co Ltd Japan 44,316,828 5,418,136 0.23 0.23

Oclaro IncUnited

States61,072,312 7,466,646 0.66 0.66

Oki Electric Industry Co Ltd Japan 72,262,867 8,834,793 0.72 0.72

One Software Technologies Ltd Israel 10,923,722 1,335,524 0.49 0.49

One Tech Holding Tunisia 11,568,567 1,414,363 0.49 0.49

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017365

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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ON Semiconductor CorpUnited

States693,057,765 84,732,621 0.95 0.95

Open Text Corp Canada 666,400,032 81,473,471 0.86 0.86

OptoTech Corp Taiwan 66,196,748 8,093,155 2.55 2.55

Oracle CorpUnited

States11,666,467,678 1,426,331,882 0.73 0.73

Oracle Corp Japan Japan 314,735,716 38,479,307 0.36 0.36

Oracle Financial Services Software Ltd India 36,851,236 4,505,399 0.08 0.08

Orient Semiconductor Electronics Ltd Taiwan 35,337,686 4,320,354 1.69 1.69

Otsuka Corp Japan 375,775,230 45,941,943 0.63 0.63

O-Net Technologies Group Ltd China 33,126,299 4,049,992 0.79 0.79

Palo Alto Networks IncUnited

States788,297,522 96,376,549 0.72 0.72

Pan Jit International Inc Taiwan 83,141,675 10,164,827 2.73 2.73

Parade Technologies Ltd Taiwan 114,780,809 14,032,999 0.9 0.9

Parrot SA France 8,682,893 1,061,563 0.33 0.33

Paycom Software IncUnited

States141,140,963 17,255,768 0.36 0.36

PAX Global Technology Ltd China 42,676,873 5,217,636 1.06 1.06

Pebble Beach Systems Group PLCUnited

Kingdom20,169 2,466 0.09 0.09

Pegasystems IncUnited

States111,099,496 13,582,925 0.37 0.37

Pegatron Corp Taiwan 628,457,104 76,834,602 1.21 1.21

Perficient IncUnited

States151,845,013 18,564,435 2.79 2.79

Persistent Systems Ltd India 213,855,158 26,145,740 2.91 2.91

Phison Electronics Corp Taiwan 269,628,480 32,964,536 1.7 1.7

Photronics IncUnited

States58,211,408 7,116,875 1.21 1.21

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017366

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Pitney Bowes IncUnited

States221,303,989 27,056,427 1.3 1.3

Plaisio Computers SA Greece 976,233 119,353 0.11 0.11

Plantronics IncUnited

States375,970,821 45,965,856 2.76 2.76

Polaris Consulting & Services Ltd/India India 9,569,115 1,169,911 0.19 0.19

Posco ICT Co Ltd South Korea 42,515,625 5,197,922 0.44 0.44

Posiflex Technology Inc Taiwan 6,925,609 846,719 0.25 0.25

Powertech Technology Inc Taiwan 246,438,621 30,129,365 1.31 1.31

Power Integrations IncUnited

States270,694,981 33,094,926 1.51 1.51

Premier IncUnited

States274,513,358 33,561,757 0.82 0.82

Presidio IncUnited

States15,397,577 1,882,494 0.11 0.11

Primax Electronics Ltd Taiwan 143,419,321 17,534,318 1.48 1.48

Proact IT Group AB Sweden 23,246,175 2,842,057 1.38 1.38

Progress Software CorpUnited

States442,506,312 54,100,425 2.66 2.66

Proofpoint IncUnited

States9,424,418 1,152,221 0.03 0.03

PROS Holdings IncUnited

States55,063,610 6,732,028 0.8 0.8

PTC IncUnited

States392,534,033 47,990,859 0.68 0.68

Q2 Holdings IncUnited

States28,563,330 3,492,127 0.23 0.23

Qisda Corp Taiwan 193,488,165 23,655,690 1.69 1.69

Qorvo IncUnited

States667,585,732 81,618,433 0.96 0.96

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017367

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Quality Systems IncUnited

States210,228,516 25,702,350 2.97 2.97

Qualys IncUnited

States289,837,505 35,435,274 1.57 1.57

Quanta Computer Inc Taiwan 703,125,140 85,963,449 1.07 1.07

Quanta Storage Inc Taiwan 21,983,290 2,687,657 0.91 0.91

QUALCOMM IncUnited

States7,147,817,851 873,885,804 0.93 0.93

R22 SA Poland 10,515,058 1,285,562 2.25 2.25

Radware LtdUnited

States 207,541,376 25,373,823 2.95 2.95

Rambus IncUnited

States201,963,863 24,691,921 1.58 1.58

Raya Holding for Financial Investments Egypt 14,386,038 1,758,824 2.81 2.81

RealPage IncUnited

States264,324,667 32,316,097 0.88 0.88

Realtek Semiconductor Corp Taiwan 225,928,052 27,621,761 1.49 1.49

RedcapTour Co Ltd South Korea 6,491,591 793,656 0.64 0.64

Redflex Holdings Ltd Australia 5,548,578 678,364 1 1

Redington India Ltd India 267,376,415 32,689,201 2.99 2.99

Red Hat IncUnited

States1,690,502,900 206,679,369 0.97 0.97

Renesas Electronics Corp Japan 788,048,534 96,346,107 0.5 0.5

Reply SpA Italy 604,428,988 73,896,946 3.56 3.56

Rhythmone PLCUnited

Kingdom37,442,597 4,577,698 2.34 2.34

Ricoh Co Ltd Japan 307,480,193 37,592,253 0.54 0.54

RingCentral IncUnited

States210,342,416 25,716,275 0.28 0.69

Riso Kagaku Corp Japan 101,124,478 12,363,388 1.37 1.37

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017368

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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RM PLCUnited

Kingdom6,088,945 744,429 0.33 0.33

Rohm Co Ltd Japan 1,553,968,591 189,986,807 1.54 1.54

Roland DG Corp Japan 76,165,321 9,311,904 2.74 2.74

Rolta India Ltd India 3,258,279 398,354 0.26 0.26

Rovio Entertainment Oyj Finland 24,389,894 2,981,887 0.35 0.35

RPMGlobal Holdings Ltd Australia 5,634,818 688,908 0.56 0.56

Rudolph Technologies IncUnited

States22,386,328 2,736,932 0.36 0.36

Ryoden Corp Japan 37,699,251 4,609,077 1.25 1.25

Ryosan Co Ltd Japan 113,465,116 13,872,143 1.27 1.27

Ryoyo Electro Corp Japan 65,299,006 7,983,398 1.62 1.62

salesforce.com IncUnited

States5,055,478,631 618,078,286 0.84 0.84

Sage Group PLC/TheUnited

Kingdom1,368,672,732 167,332,701 1.43 1.43

SailPoint Technologies Holding IncUnited

States3,745,288 457,896 0.04 0.04

Samart Corp PCL Thailand 13,619,476 1,665,105 0.46 0.46

Samco Inc Japan 11,009,287 1,345,986 1.33 1.33

Samsung SDS Co Ltd South Korea 884,354,445 108,120,382 0.75 0.75

Samyung ENC Co Ltd South Korea 5,906,310 722,100 0.99 0.99

Sanken Electric Co Ltd Japan 268,589,807 32,837,549 3.63 3.63

Sato Holdings Corp Japan 440,892,185 53,903,083 5.08 5.08

SAP SE Germany 20,150,598,802 2,463,594,149 1.79 1.79

ScanSource IncUnited

States197,264,541 24,117,386 2.64 2.64

Science Applications International CorpUnited

States476,114,698 58,209,356 1.78 1.78

Scout24 AG Germany 389,726,879 47,647,659 1.08 1.08

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017369

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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SCREEN Holdings Co Ltd Japan 351,126,146 42,928,368 1.03 1.03

SCSK Corp Japan 160,093,683 19,572,910 0.41 0.41

SDL PLCUnited

Kingdom88,555,082 10,826,665 2.22 2.22

Seagate Technology PLCUnited

States1,216,703,526 148,753,083 1.23 1.23

Searainbow Holding Corp China 19,079,709 2,332,668 0.04 0.04

Sea Ltd Singapore 163,546,103 19,995,000 0.82 0.45

Seiko Epson Corp Japan 958,611,575 117,198,992 1.24 1.24

Semiconductor Manufacturing

International CorpHong Kong 538,663,182 65,856,478 0.89 0.89

Semtech CorpUnited

States293,527,442 35,886,402 1.58 1.58

Senao International Co Ltd Taiwan 57,442,313 7,022,846 1.61 1.61

Seoul Semiconductor Co Ltd South Korea 86,766,176 10,607,955 0.7 0.7

Sercomm Corp Taiwan 94,169,375 11,513,063 1.67 1.67

Servelec Group PlcUnited

Kingdom38,582,315 4,717,039 1.57 1.57

ServiceNow IncUnited

States892,354,706 109,098,487 0.48 0.48

Sesa SpA Italy 93,961,992 11,487,709 2.41 2.41

SFA Semicon Co Ltd South Korea 18,325,847 2,240,502 0.72 0.72

Shanghai Baosight Software Co Ltd China 22,489,523 2,749,549 0.23 0.23

Shindengen Electric Manufacturing Co

LtdJapan 136,245,967 16,657,310 2.04 2.04

Shinko Electric Industries Co Ltd Japan 134,918,393 16,495,002 1.5 1.5

Shinko Shoji Co Ltd Japan 72,449,507 8,857,612 1.89 1.89

Sierra Wireless Inc Canada 52,781,827 6,453,059 0.88 0.88

Signpost Corp Japan 35,963,000 4,396,804 1.05

Sigurd Microelectronics Corp Taiwan 78,864,506 9,641,904 2.4 2.4

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017370

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Siliconware Precision Industries Co Ltd Taiwan 416,483,156 50,918,857 0.97 0.97

Silicon Integrated Systems Corp Taiwan 7,046,979 861,557 0.51 0.51

Silicon Laboratories IncUnited

States386,741,091 47,282,619 1.26 1.26

Silicon Works Co Ltd South Korea 122,268,938 14,948,491 1.86 1.86

Siltronic AG Germany 971,729,962 118,802,834 2.72 2.72

Silverlake Axis Ltd Singapore 61,012,736 7,459,362 0.66 0.66

SimCorp A/S Denmark 523,492,249 64,001,693 2.76 2.76

Sindoh Co Ltd South Korea 41,008,559 5,013,670 0.84 0.84

Sinosoft Technology Group Ltd China 9,353,961 1,143,607 0.33 0.33

Sino-American Silicon Products Inc Taiwan 25,064,543 3,064,369 0.2 0.2

Sitronix Technology Corp Taiwan 67,809,876 8,290,375 2.45 2.45

SINA Corp/China China 725,487,179 88,697,412 1.24 1.24

Skyworks Solutions IncUnited

States1,536,099,718 187,802,175 1.08 1.08

SKIYAKI Inc Japan 11,589,772 1,416,955 1.11 1.11

SK Holdings Co Ltd South Korea 1,418,200,087 173,387,872 0.93 0.92

SK Hynix Inc South Korea 4,230,618,178 517,231,587 0.99 0.99

Societe pour l'Informatique Industrielle France 19,997,273 2,444,849 0.27 0.43

Softcreate Holdings Corp Japan 11,473,264 1,402,711 0.73 0.73

Software AG Germany 939,554,536 114,869,095 2.67 2.67

Sogou Inc China 85,171,572 10,413,000 0.03 0.23

Sohu.com Inc China 294,256,327 35,975,515 2.13 2.13

Solutions 30 SE France 121,849,598 14,897,223 2.04 2.04

Sonix Technology Co Ltd Taiwan 30,848,924 3,771,562 1.83 1.83

Sophos Group PLCUnited

Kingdom232,446,643 28,418,718 0.79 0.79

Sopra Steria Group France 632,538,655 77,333,609 1.55 2.01

SOITEC France 370,447,864 45,290,624 1.97 2.01

SONDA SA Chile 237,902,385 29,085,732 1.68 1.68

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017371

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Space Communication Ltd Israel 2,595,680 317,346 0.27 0.27

Splunk IncUnited

States215,486,538 26,345,191 0.22 0.22

Sqli SA France 36,427,921 4,453,645 2.26 2.72

Square Enix Holdings Co Ltd Japan 334,151,379 40,853,048 0.7 0.7

Square IncUnited

States551,130,849 67,380,764 0.13 0.5

SRA Holdings Japan 64,563,786 7,893,511 1.44 1.44

Ssangyong Information &

CommunicationSouth Korea 2,196,398 268,530 0.54 0.54

SS&C Technologies Holdings IncUnited

States397,675,376 48,619,435 0.58 0.58

STMicroelectronics NV France 2,289,529,475 279,915,822 1.41 1.41

Suncorp Technologies Ltd Hong Kong 3,733,510 456,456 0.94 0.94

Sunplus Technology Co Ltd Taiwan 55,561,474 6,792,896 2.08 2.08

Sunrex Technology Corp Taiwan 15,536,354 1,899,461 1.48 1.48

Super Micro Computer IncUnited

States5,344,763 653,446 0.06 0.06

SUMCO Corp Japan 392,648,596 48,004,865 0.64 0.64

Switch IncUnited

States212,373,601 25,964,606 3.97 0.57

Sword Group France 6,876,039 840,658 0.22 0.22

Symantec CorpUnited

States787,072,016 96,226,719 0.55 0.55

Synaptics IncUnited

States183,537,504 22,439,131 1.65 1.65

Synchronoss Technologies IncUnited

States59,848,861 7,317,068 1.72 1.72

Synnex Technology International Corp Taiwan 155,780,258 19,045,555 0.84 0.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017372

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Synopsys IncUnited

States1,223,435,137 149,576,083 1.18 1.18

Syntel IncUnited

States90,618,045 11,078,881 0.58 0.58

Systena Corp Japan 123,925,318 15,150,998 1.68 1.68

Systex Corp Taiwan 48,093,624 5,879,883 1.1 1.1

SYNNEX CorpUnited

States255,265,621 31,208,546 0.57 0.57

Tableau Software IncUnited

States430,233,466 52,599,958 0.35 0.95

Taiwan Semiconductor Co Ltd Taiwan 127,483,902 15,586,068 2.79 2.79

Taiwan Semiconductor Manufacturing

Co LtdTaiwan 22,549,995,493 2,756,942,238 1.37 1.37

Tata Consultancy Services Ltd India 1,504,507,603 183,939,751 0.23 0.23

Tatung Co Ltd Taiwan 127,617,188 15,602,363 1.03 1.03

TechMatrix Corp Japan 97,009,789 11,860,330 2.72 2.72

Technology One Ltd Australia 95,366,784 11,659,457 0.95 0.95

TechnoPro Holdings Inc Japan 171,702,305 20,992,170 1.13 1.13

Tech Data CorpUnited

States377,381,187 46,138,286 1.23 1.23

Tech Mahindra Ltd India 882,323,144 107,872,037 1.4 1.4

Telefonaktiebolaget LM Ericsson Sweden 2,226,119,155 272,163,333 0.73 1.24

Tele Columbus AG Germany 359,779,373 43,986,304 3.1 3.1

Telit Communications PLCUnited

Kingdom70,835,670 8,660,305 3.27 3.27

Temenos Group AG Switzerland 1,327,313,569 162,276,167 1.79 1.79

Tencent Holdings Ltd China 33,952,282,699 4,150,975,652 0.84 0.84

Teradata CorpUnited

States603,247,603 73,752,511 1.58 1.58

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017373

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Teradyne IncUnited

States805,360,594 98,462,664 1.2 1.2

Test Research Inc Taiwan 58,288,357 7,126,282 2.01 2.01

Texas Instruments IncUnited

States7,630,308,563 932,874,686 0.91 0.91

TES Co Ltd/Korea South Korea 44,503,197 5,440,921 0.77 0.77

Thaicom PCL Thailand 19,905,009 2,433,569 0.58 0.58

Tian Ge Interactive Holdings Ltd China 37,511,610 4,586,136 0.46 0.46

Tieto OYJ Finland 497,464,513 60,819,565 2.63 2.63

Tintri IncUnited

States8,342,937 1,020,000 0.64 0.64

Tiphone Mobile Indonesia Tbk PT Indonesia 53,057,973 6,486,820 1.21 1.21

TiVo CorpUnited

States208,327,112 25,469,886 1.34 1.34

TIS Inc Japan 634,205,391 77,537,383 2.53 2.53

Tokyo Electron Device Ltd Japan 10,807,560 1,321,323 0.7 0.7

Tokyo Electron Ltd Japan 2,960,524,256 361,951,042 1.21 1.21

Tokyo Ohka Kogyo Co Ltd Japan 142,179,281 17,382,711 0.89 0.89

Tokyo Seimitsu Co Ltd Japan 183,711,028 22,460,346 1.36 1.36

TomTom NV Netherlands 191,453,710 23,406,959 0.97 0.97

Tong Hsing Electronic Industries Ltd Taiwan 128,058,675 15,656,339 2.09 2.09

Topco Scientific Co Ltd Taiwan 58,840,338 7,193,767 1.46 1.46

Toukei Computer Co Ltd Japan 8,523,732 1,042,104 0.38 0.38

Towa Corp Japan 75,849,038 9,273,235 1.91 1.91

Tower Semiconductor Ltd Israel 687,624,459 84,068,350 2.51 2.51

TOM Group Ltd Hong Kong 17,639,012 2,156,530 0.2 0.2

TOTVS SA Brazil 69,066,426 8,443,999 0.57 0.57

TPV Technology Ltd Hong Kong 25,256,261 3,087,808 0.97 0.97

Transcend Information Inc Taiwan 100,177,958 12,247,667 1.02 1.02

Transcosmos Inc Japan 226,777,617 27,725,628 2.22 2.22

TravelSky Technology Ltd China 1,145,183,885 140,009,155 1.6 1.6

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017374

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Trend Micro Inc/Japan Japan 497,175,128 60,784,186 0.76 0.76

Twilio IncUnited

States6,250,977 764,239 0.01 0.03

Twitter IncUnited

States312,455,540 38,200,534 0.21 0.21

Tyler Technologies IncUnited

States465,768,296 56,944,414 0.86 0.86

Tyntek Corp Taiwan 20,554,126 2,512,929 1.59 1.59

T-Gaia Corp Japan 154,656,496 18,908,165 1.03 1.03

u-blox Holding AG Switzerland 244,478,339 29,889,703 2.19 2.19

Ubiquiti Networks IncUnited

States183,948,725 22,489,406 0.41 0.41

UKC Holdings Corp Japan 28,255,678 3,454,514 1 1

Ultimate Software Group Inc/TheUnited

States253,263,609 30,963,782 0.47 0.47

Uniden Holdings Corp Japan 13,454,068 1,644,882 0.99 0.99

Unisem M Bhd Malaysia 165,076,025 20,182,047 3.05 3.05

Unisys CorpUnited

States6,563,045 802,392 0.2 0.2

United Internet AG Germany 3,085,200,400 377,193,836 2.67 2.67

United Microelectronics Corp Taiwan 635,744,794 77,725,589 1.29 1.29

Unizyx Holding Corp Taiwan 20,194,924 2,469,013 1.09 1.09

UNIRITA Inc Japan 14,735,972 1,801,607 1.3 1.3

UT Group Co Ltd Japan 927,392 113,382 0.01 0.01

Uzabase Inc Japan 41,554,960 5,080,472 1.23 1.23

V1 Group Ltd China 176 21 0

Vakrangee Ltd India 109,208,012 13,351,674 0.19 0.19

Vanguard International Semiconductor

CorpTaiwan 277,668,302 33,947,478 0.93 0.93

Varonis Systems IncUnited

States302,048,260 36,928,150 2.73 2.73

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017375

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Veeva Systems IncUnited

States299,434,323 36,608,572 0.18 0.47

VeriFone Systems IncUnited

States152,113,589 18,597,271 0.93 0.93

Verint Systems IncUnited

States378,300,279 46,250,653 1.73 1.73

VeriSign IncUnited

States1,014,402,997 124,020,001 1.1 1.1

ViaSat IncUnited

States275,540,139 33,687,290 0.77 0.77

Viavi Solutions IncUnited

States237,087,141 28,986,061 1.46 1.46

Virtusa CorpUnited

States221,583,124 27,090,554 2.09 2.09

Vista Group International LtdNew

Zealand8,376,701 1,024,128 0.3 0.3

Visual Photonics Epitaxy Co Ltd Taiwan 76,511,093 9,354,178 1.62 1.62

ViTrox Corp Bhd Malaysia 83,152,667 10,166,171 1.41 1.41

VMware IncUnited

States242,380,046 29,633,167 0.01 0.06

Vocera Communications IncUnited

States116,797,720 14,279,585 1.62 1.62

VTech Holdings Ltd Hong Kong 315,888,373 38,620,229 1.17 1.17

V-Cube Inc Japan 10,242,978 1,252,297 1.22 1.22

Wacom Co Ltd Japan 76,898,377 9,401,527 1.04 1.04

Wafer Works Corp Taiwan 20,771,648 2,539,523 0.38 0.38

Wavestone France 62,905,143 7,690,726 0.66 1.05

Web.com Group IncUnited

States243,256,154 29,740,279 2.8 2.8

Weibo Corp China 272,540,314 33,320,535 0.07 0.15

Weltrend Semiconductor Taiwan 4,306,770 526,542 0.24 0.24

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017376

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Western Digital CorpUnited

States1,751,442,847 214,129,833 0.91 0.91

WideOpenWest IncUnited

States27,171,739 3,321,992 0.35 0.35

Winbond Electronics Corp Taiwan 350,759,541 42,883,547 1.37 1.37

Win Semiconductors Corp Taiwan 379,052,237 46,342,587 1.21 1.21

Wipro Ltd India 786,076,083 96,104,957 0.4 0.4

WiseTech Global Ltd Australia 120,293,155 14,706,933 0.46 0.46

Wistron Corp Taiwan 367,802,413 44,967,193 2.03 2.03

Wistron NeWeb Corp Taiwan 133,742,252 16,351,208 1.55 1.55

Wix.com LtdUnited

States210,676,627 25,757,136 0.98 0.98

Wonik Holdings Co Ltd South Korea 39,170,170 4,788,910 0.84 0.84

Workday IncUnited

States209,554,647 25,619,963 0.03 0.12

WONIK IPS Co Ltd South Korea 234,172,881 28,629,767 2.22 2.22

WPG Holdings Ltd Taiwan 181,077,679 22,138,395 0.96 0.96

WT Microelectronics Co Ltd Taiwan 76,777,796 9,386,785 1.12 1.12

Xero LtdNew

Zealand172,906,137 21,139,349 0.68 0.68

Xilinx IncUnited

States1,473,372,718 180,133,228 1.06 1.06

XING SE Germany 423,456,104 51,771,364 2.89 2.89

Xperi CorpUnited

States257,945,575 31,536,195 2.62 2.62

X-Fab Silicon Foundries SE France 68,456,385 8,369,416 0.55 0.55

Yahoo Japan Corp Japan 389,132,685 47,575,013 0.18 0.18

Yamaichi Electronics Co Ltd Japan 31,110,391 3,803,529 0.89 0.89

Yandex NVUnited

States1,472,405,363 180,014,960 0.75 1.69

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017377

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Yangtze Optical Fibre and Cable Joint

Stock Ltd CoChina 29,655,728 3,625,683 0.12 0.12

YY Inc China 251,029,996 30,690,702 0.13 0.02

Zaklady Urzadzen Komputerowych

ELZAB SAPoland 5,707,545 697,799 1.64 1.65

Zendesk IncUnited

States4,696,282 574,163 0.02 0.02

Zinwell Corp Taiwan 29,150,180 3,563,875 1.06 1.06

ZIGExN Co Ltd Japan 65,885,842 8,055,144 0.91 0.91

TELECOMMUNICATIONS

8x8 IncUnited

States63,450,696 7,757,425 0.6 0.6

Advanced Info Service PCL Thailand 484,538,990 59,239,303 0.34 0.34

Altice NV Netherlands 1,253,920,550 153,303,203 1.48 1.22

America Movil SAB de CV Mexico 1,568,830,300 191,803,786 0.34

ATN International IncUnited

States94,731,865 11,581,833 1.31 1.31

AT&T IncUnited

States17,518,036,188 2,141,739,403 0.9 0.9

Axiata Group Bhd Malaysia 94,737,113 11,582,474 0.09 0.09

Axtel SAB de CV Mexico 5,518,397 674,674 0.12 0.12

BCE Inc Canada 684,636,781 83,703,079 0.19 0.19

Bezeq The Israeli Telecommunication

Corp LtdIsrael 176,921,353 21,630,246 0.52 0.52

Bharti Airtel Ltd India 1,557,607,114 190,431,650 0.57 0.57

Bharti Infratel Ltd India 90,416,129 11,054,195 0.1 0.1

Blue Label Telecoms Ltd South Africa 167,054,355 20,423,916 1.94 1.94

BT Group PLCUnited

Kingdom5,359,900,276 655,296,604 1.8 1.8

Cellcom Israel Ltd Israel 162,844,284 19,909,196 1.92 1.92

Cellnex Telecom SA Spain 517,602,306 63,281,594 1.07 1.07

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017378

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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CenturyLink IncUnited

States721,720,895 88,236,950 0.49 0.49

China Mobile Ltd China 4,768,046,216 582,937,057 0.28 0.28

China Telecom Corp Ltd China 426,972,301 52,201,251 0.14 0.14

China Unicom Hong Kong Ltd China 2,118,190,066 258,968,019 0.63 0.63

Chorus LtdNew

Zealand163,608,636 20,002,645 1.58 1.58

Chunghwa Telecom Co Ltd Taiwan 1,098,546,125 134,307,265 0.47 0.47

Cincinnati Bell IncUnited

States66,828,611 8,170,406 0.93 0.93

CITIC Telecom International Holdings

LtdHong Kong 56,211,091 6,872,318 0.73 0.73

Com Hem Holding AB Sweden 1,501,898,008 183,620,704 6.52 6.52

Consolidated Communications Holdings

Inc

United

States62,492,404 7,640,265 0.88 0.88

Deutsche Telekom AG Germany 11,719,506,213 1,432,816,326 1.69 1.69

Dialog Axiata PLC Sri Lanka 92,291,575 11,283,485 1.62 1.62

Digi Communications NV Romania 24,702,142 3,020,062 0.04 0.31

DiGi.Com Bhd Malaysia 44,894,567 5,488,769 0.06 0.06

DNA Oyj Finland 385,012,770 47,071,316 1.89 1.89

Drillisch AG Germany 736,874,859 90,089,660 0.62 0.62

Elisa OYJ Finland 680,097,172 83,148,071 1.25 1.25

Empresa Nacional de

Telecomunicaciones SAChile 510,001,193 62,352,289 1.84 1.84

Euskaltel SA Spain 384,186,144 46,970,254 3.22 3.22

Far EasTone Telecommunications Co

LtdTaiwan 615,792,449 75,286,233 0.94 0.94

FPT Corp Vietnam 203,578,367 24,889,309 1.86 1.86

Freenet AG Germany 707,160,807 86,456,846 1.82 1.82

Global Telecom Holding SAE Egypt 133,480,154 16,319,164 0.83 0.83

GrameenPhone Ltd Bangladesh 398,577,988 48,729,788 0.64 0.64

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017379

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Hellenic Telecommunications

Organization SAGreece 711,157,779 86,945,513 1.28 1.28

Hikari Tsushin Inc Japan 451,566,632 55,208,132 0.8 0.8

Hong Kong Television Network Ltd Hong Kong 13,748,105 1,680,831 0.49 0.49

Hrvatski Telekom dd Croatia 106,628,286 13,036,279 0.6 0.6

Hutchison Telecommunications Hong

Kong Holdings LtdHong Kong 129,151,365 15,789,930 0.82 0.82

Idea Cellular Ltd India 104,753,738 12,807,098 0.21 0.21

Indosat Tbk PT Indonesia 27,486,212 3,360,440 0.17 0.17

Infrastrutture Wireless Italiane SpA Italy 681,846,417 83,361,932 1.87 1.87

Inmarsat PLCUnited

Kingdom355,353,681 43,445,223 1.43 1.43

KCOM Group PLCUnited

Kingdom129,062,883 15,779,112 2.49 2.49

KDDI Corp Japan 3,803,106,795 464,964,428 0.72 0.72

Koninklijke KPN NV Netherlands 1,223,221,531 149,549,968 1.02 1.02

Kron Telekomunikasyon Hizmetleri AS Turkey 17,046,220 2,084,056 2.99 2.99

KT Corp South Korea 63,656,683 7,782,609 0.11 0.11

LG Uplus Corp South Korea 499,617,086 61,082,737 1.07 1.07

Linx SA Brazil 54,726,083 6,690,762 0.62 0.62

M1 Ltd/Singapore Singapore 12,825,948 1,568,089 0.13 0.13

Magyar Telekom Telecommunications

PLCHungary 61,232,042 7,486,175 0.41 0.41

Maroc Telecom Morocco 70,359,248 8,602,059 0.07 0.07

Maxcom SA Poland 2,975,162 363,741 2.22 2.22

Maxis Bhd Malaysia 98,060,232 11,988,756 0.1 0.1

MegaFon PJSC Russia 110,527,315 13,512,970 0.24 0.24

Mobile Telecommunications Co KSC Kuwait 121,839,717 14,896,015 0.24 0.24

Mobile TeleSystems PJSC Russia 346,141,284 42,318,923 0.43 0.43

MTI Ltd Japan 1,299,925 158,928 0.05 0.05

MTN Group Ltd South Africa 929,683,193 113,662,234 0.55 0.55

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017380

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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National Mobile Telecommunications

Co KSCKuwait 80,945,124 9,896,278 0.55 0.55

Nippon Telegraph & Telephone Corp Japan 5,413,194,437 661,812,300 0.67 0.67

NTT DOCOMO Inc Japan 3,771,290,813 461,074,635 0.5 0.5

OCK Group Bhd Malaysia 30,418,451 3,718,933 1.92 1.92

Ooredoo Oman 44,530,433 5,444,251 0.62 0.62

Ooredoo QPSC Qatar 30,905,052 3,778,424 0.05 0.05

Orange Belgium SA Belgium 252,135,644 30,825,878 2.44 2.44

Orange Polska SA Poland 12,947,656 1,582,969 0.07 0.07

Orange SA France 4,810,584,293 588,137,724 1.1 1.27

Orascom Telecom Media And

Technology Holding SAE

Egypt 45,450,982 5,556,796 2.62 2.62

Pacific Century Regional Developments

LtdSingapore 3,384,613 413,800 0.06 0.06

Partner Communications Co Ltd Israel 193,910,018 23,707,265 2.23 2.23

PCCW Ltd Hong Kong 360,335,302 44,054,271 0.98 0.98

Pharol SGPS SA Portugal 67,775,892 8,286,220 3.08 3.08

PLAY Communications SA Poland 290,392,582 35,503,137 1.44 1.44

PLDT Inc Philippines 9,780,864 1,195,800 0.02 0.02

Proximus SADP Belgium 796,300,010 97,354,926 0.88 0.88

Reliance Communications Ltd India 25,570,629 3,126,242 0.22 0.22

Retelit SpA Italy 70,563,168 8,626,990 2.63 2.63

Rogers Communications Inc Canada 313,655,897 38,347,289 0.15

Safaricom Ltd Kenya 210,834,712 25,776,463 0.25 0.25

Samart Telcoms PCL Thailand 10,299,802 1,259,245 0.52 0.52

Shenandoah Telecommunications CoUnited

States197,553,961 24,152,770 1.45 1.45

Singapore Telecommunications Ltd Singapore 1,844,733,470 225,535,461 0.52 0.52

Sistema PJSC FC Russia 446,745,804 54,618,742 2.7 2.7

SK Telecom Co Ltd South Korea 665,824,016 81,403,047 0.4 0.4

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017381

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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SmarTone Telecommunications

Holdings LtdHong Kong 133,546,880 16,327,322 1.21 1.21

SoftBank Group Corp Japan 10,459,484,547 1,278,767,206 1.47 1.47

Sonaecom SGPS SA Portugal 33,150,241 4,052,919 0.43 0.43

Spark New Zealand LtdNew

Zealand240,319,706 29,381,272 0.62 0.62

SpeedCast International Ltd Australia 85,357,488 10,435,730 1.04 1.04

Sprint CorpUnited

States540,538,888 66,085,800 0.28 0.28

StarHub Ltd Singapore 170,831,795 20,885,742 0.57 0.57

Sunrise Communications Group AG Switzerland 712,702,211 87,134,333 2.12 2.12

Superloop Ltd Australia 24,780,682 3,029,664 0.7 0.7

Swisscom AG Switzerland 1,221,609,147 149,352,839 0.54 0.54

Taiwan Mobile Co Ltd Taiwan 560,947,265 68,580,910 0.55 0.55

TalkTalk Telecom Group PLCUnited

Kingdom202,826,685 24,797,409 1.26 1.26

Tata Communications Ltd India 289,376,684 35,378,934 1.16 1.16

TDC A/S Denmark 861,510,249 105,327,471 2.11 2.11

Tele2 AB Sweden 887,188,590 108,466,882 1.24 1.74

Telecom Egypt Co Egypt 80,894,157 9,890,047 0.76 0.76

Telecom Italia SpA/Milano Italy 2,663,548,206 325,643,016 1.25 1.96

Telecom Plus PLCUnited

Kingdom416,696,985 50,945,000 4.01 4.01

Telefonica Brasil SA Brazil 574,374,191 70,222,474 0.28

Telefonica Deutschland Holding AG Germany 850,035,966 103,924,635 0.7 0.7

Telefonica SA Spain 7,019,437,205 858,190,101 1.69 1.69

Telekomunikasi Indonesia Persero Tbk

PTIndonesia 1,980,969,431 242,191,547 0.73 0.73

Telekom Austria AG Austria 487,815,955 59,639,941 0.97 0.97

Telekom Malaysia Bhd Malaysia 71,321,323 8,719,681 0.15 0.15

Telekom Slovenije DD Slovenia 48,859,574 5,973,528 0.92 0.92

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017382

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Telephone & Data Systems IncUnited

States287,288,934 35,123,688 0.72 1.14

Telesites SAB de CV Mexico 42,273,568 5,168,329 0.2 0.2

Telia Co AB Sweden 1,059,065,642 129,480,416 0.67 0.67

Telkom SA SOC Ltd South Africa 145,952,511 17,844,023 0.87 0.87

Telstra Corp Ltd Australia 1,011,964,252 123,721,842 0.37 0.37

TELUS Corp Canada 415,947,646 50,853,386 0.23 0.23

TIME dotCom Bhd Malaysia 185,451,191 22,673,096 1.73 1.73

TIM Participacoes SA Brazil 498,748,884 60,976,591 0.64 0.64

Total Access Communication PCL Thailand 578,066,001 70,673,831 1.99 1.99

TPG Telecom Ltd Australia 245,691,910 30,038,073 0.63 0.63

True Corp PCL Thailand 6,389,335 781,154 0.01 0.01

Turkcell Iletisim Hizmetleri AS Turkey 552,669,162 67,568,836 0.75 0.75

T-Mobile US IncUnited

States3,705,771,253 453,064,272 0.86 0.86

United States Cellular Corp United

States

59,619,026 7,288,969 0.05 0.23

Verizon Communications IncUnited

States16,602,069,053 2,029,754,082 0.94 0.94

Vocus Group Ltd Australia 100,797,568 12,323,420 0.84 0.84

Vodacom Group Ltd South Africa 653,544,473 79,901,762 0.39 0.39

Vodafone Group PLCUnited

Kingdom15,838,847,926 1,936,443,351 2.28 2.28

Vonage Holdings CorpUnited

States254,380,882 31,100,379 1.34 1.34

Windstream Holdings IncUnited

States12,406,016 1,516,748 0.45 0.45

Zayo Group Holdings IncUnited

States254,725,231 31,142,478 0.34 0.34

UNKNOWN

Kontron S&T AG Germany 61 7 0

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017383

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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UTILITIES

A2A SpA Italy 436,452,791 53,360,327 0.92 0.92

ACEA SpA Italy 419,306,977 51,264,095 1.3 1.3

AES Tiete Energia SA Brazil 34,586,698 4,228,539 0.14 0.14

Aguas Andinas SA Chile 75,602,306 9,243,070 0.23 0.23

AGL Energy Ltd Australia 1,072,398,446 131,110,473 1.05 1.05

Albioma SA France 133,937,862 16,375,123 2.12 2.12

Algonquin Power & Utilities Corp Canada 104,773,907 12,809,564 0.26 0.26

Almendral SA Chile 118,858,552 14,531,540 0.95 0.95

Alpiq Holding AG Switzerland 27,270,873 3,334,112 0.18 0.18

Alupar Investimento SA Brazil 30,861,102 3,773,051 0.11 0.2

American States Water CoUnited

States107,994,937 13,203,364 0.62 0.62

American Water Works Co IncUnited

States1,980,790,981 242,169,730 1.48 1.48

AquaVenture Holdings LtdUnited

States84,377,956 10,315,973 2.51 2.51

Aqua America Inc United

States443,357,120 54,204,444 0.78 0.78

Artesian Resources CorpUnited

States48,845,653 5,971,826 1.68

Ascopiave SpA Italy 42,939,966 5,249,802 0.53 0.53

Atco Ltd/Canada Canada 194,649,631 23,797,689 0.58

Athens Water Supply & Sewage Co SA Greece 79,242,363 9,688,100 1.21 1.21

Atlantica Yield plcUnited

States431,594,917 52,766,408 2.48 2.48

Atlantic Power Corp Canada 4,155,446 508,041 0.18 0.18

Atmos Energy CorpUnited

States318,060,884 38,885,839 0.41 0.41

AusNet Services Australia 256,029,575 31,301,946 0.61 0.61

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017384

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Avangrid IncUnited

States286,072,417 34,974,957 0.22 0.22

Avista CorpUnited

States398,329,830 48,699,448 1.47 1.47

Aygaz AS Turkey 107,972,644 13,200,639 1.04 1.04

Beijing Enterprises Water Group Ltd China 503,833,226 61,598,199 0.91 0.91

Beijing Jingneng Clean Energy Co Ltd China 373,380,268 45,649,137 2.47 2.47

BKW AG Switzerland 300,957,312 36,794,771 1.17 1.17

Boralex Inc Canada 278,456,461 34,043,837 2.38 2.38

B Grimm Power PCL Thailand 177,686,965 21,723,849 0.94 0.94

Cadiz IncUnited

States61,998,095 7,579,832 2.33 2.33

California Water Service GroupUnited

States46,665,292 5,705,257 0.26 0.26

Calpine CorpUnited

States67,050,796 8,197,570 0.15 0.15

Canadian Utilities Ltd Canada 194,079,804 23,728,023 0.29

CenterPoint Energy IncUnited

States921,754,078 112,692,827 0.92 0.92

Centrais Eletricas Brasileiras SA Brazil 999,922,991 122,249,689 0.5 1.38

Centrais Eletricas do Para SA Brazil 23,412,362 2,862,374 0.24 0.24

Centrica PLCUnited

Kingdom1,301,860,555 159,164,305 1.53 1.53

CGN New Energy Holdings Co Ltd Hong Kong 46,774,418 5,718,598 0.95 0.95

CGN Power Co Ltd China 64,316,290 7,863,252 0.06 0.06

China Datang Corp Renewable Power

Co LtdChina 42,621,653 5,210,885 0.6 0.6

China Everbright Water Ltd China 20,136,873 2,461,916 0.29 0.29

China Power Clean Energy

Development Co LtdChina 5,405,756 660,903 0.11 0.11

China Resources Gas Group Ltd China 229,235,666 28,026,147 0.35 0.35

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017385

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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China Suntien Green Energy Corp Ltd China 172,097,140 21,040,442 2.14 2.14

China Water Affairs Group Ltd China 103,327,436 12,632,720 0.87 0.87

Chongqing Fuling Electric Power

Industrial Co LtdChina 66,454,803 8,124,705 0.97 0.97

Chubu Electric Power Co Inc Japan 420,018,566 51,351,093 0.54 0.54

Cia de Gas de Sao Paulo - COMGAS Brazil 167,905,454 20,527,970 0.87

Cia de Saneamento Basico do Estado

de Sao PauloBrazil 285,177,863 34,865,590 0.49 0.49

Cia de Saneamento de Minas Gerais-

COPASABrazil 182,565,306 22,320,271 1.35 1.35

Cia de Saneamento do Parana Brazil 160,706,141 19,647,789 1.11

Cia de Transmissao de Energia Eletrica

PaulistaBrazil 412,083,487 50,380,958 1.52

Cia Energetica de Minas Gerais Brazil 173,234,659 21,179,514 0.57 0.82

Cia Energetica de Sao Paulo Brazil 206,556,377 25,253,397 1.94

Cia Energetica do Ceara Brazil 20,464,069 2,501,919 0.19

Cia Paranaense de Energia Brazil 67,980,509 8,311,236 0.36 0.43

CITIC Envirotech Ltd Singapore 18,671,616 2,282,775 0.18 0.18

CK Infrastructure Holdings Ltd Hong Kong 684,707,474 83,711,722 0.37 0.37

CMS Energy CorpUnited

States508,246,211 62,137,726 0.47 0.47

Colbun SA Chile 160,648,984 19,640,801 0.49 0.49

Concord New Energy Group Ltd China 87,580,557 10,707,520 2.8 2.8

Connecticut Water Service IncUnited

States94,805,144 11,590,792 1.67 1.67

Consolidated Edison IncUnited

States1,963,334,935 240,035,570 0.91 0.91

Consolidated Water Co LtdUnited

States5,735,485 701,215 0.37 0.37

Contact Energy LtdNew

Zealand243,946,119 29,824,634 1.05 1.05

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017386

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Co Energetica do Maranhao Brazil 7,107,892 869,005 0.07 0.07

CPFL Energia SA Brazil 17,606 2,153 0

Direct Energie France 201,862,486 24,679,527 0.72 1.15

Dominion Energy IncUnited

States2,333,770,709 285,324,715 0.55 0.55

E1 Corp South Korea 22,220,599 2,716,670 0.75 0.75

Eastern Water Resources Development

and Management PCLThailand 35,356,777 4,322,688 0.68 0.68

Edison InternationalUnited

States1,656,645,654 202,540,013 0.98 0.98

EDP Renovaveis SA Portugal 265,997,348 32,520,597 0.45 0.45

EDP - Energias de Portugal SA Portugal 2,755,444,246 336,878,144 2.68 2.68

EDP - Energias do Brasil SA Brazil 473,144,015 57,846,163 2.26 2.26

Elecnor SA Spain 270,075,916 33,019,239 2.38 2.38

Electricite de France SA France 455,800,130 55,725,715 0.1 0.15

Eletropaulo Metropolitana Eletricidade

de Sao Paulo SABrazil 56,159,614 6,866,024 0.83 0.83

Elia System Operator SA/NV Belgium 265,494,675 32,459,141 0.93 0.95

El Paso Electric CoUnited

States288,871,079 35,317,119 1.57 1.57

Empresas Lipigas SA Chile 44,072,903 5,388,314 0.52 0.52

Enagas SA Spain 573,678,278 70,137,392 1.02 1.02

Endesa SA Spain 995,792,575 121,744,708 0.54 0.54

Enel Americas SA Chile 885,696,986 108,284,520 0.85 0.85

Enel Chile SA Chile 288,330,583 35,251,039 0.61 0.61

Enel Distribucion Peru SAA Peru 21,814,898 2,667,070 0.24 0.24

Enel Generacion Chile SA Chile 212,721,420 26,007,130 0.35 0.35

Enel Generacion Peru SAA Peru 6,264,683 765,914 0.04 0.04

Enel SpA Italy 9,454,720,476 1,155,925,651 1.85 1.85

Enerchina Holdings Ltd China 5,173,284 632,481 0.3 0.3

Energiekontor AG Germany 37,624,823 4,599,977 1.84 1.84

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017387

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Energijos Skirstymo Operatorius AB Lithuania 6,526,719 797,951 0.09 0.09

Energy Development Corp Philippines 66,303,409 8,106,195 0.38 0.38

Engie Brasil Energia SA Brazil 156,059,512 19,079,696 0.27 0.27

Engie Energia Peru SA Peru 81,650,061 9,982,463 0.74 0.74

Engie SA France 4,847,837,106 592,692,219 1.25 1.41

Entergy CorpUnited

States1,018,030,201 124,463,460 0.85 0.85

ENN Energy Holdings Ltd China 618,339,931 75,597,686 0.98 0.98

Equatorial Energia SA Brazil 797,900,855 97,550,643 2.48 2.48

ERG SpA Italy 371,140,074 45,375,253 1.63 1.63

ERM Power Ltd Australia 15,221,239 1,860,935 0.65 0.65

EverChina International Holdings Co Ltd China 7,750,492 947,568 0.67 0.67

Eversource EnergyUnited

States1,387,827,656 169,674,565 0.85 0.85

Evoqua Water Technologies CorpUnited

States5,841,825 714,216 0.03 0.03

EVN AG Austria 208,571,235 25,499,732 0.71 0.71

Exelon CorpUnited

States2,004,243,026 245,036,956 0.65 0.65

E.ON SE Germany 4,505,195,876 550,801,210 2.3 2.3

Falck Renewables SpA Italy 56,072,457 6,855,368 0.9 0.9

Federal Grid Co Unified Energy System

PJSCRussia 195,061,930 23,848,097 0.66 0.66

First Gen Corp Philippines 105,003,172 12,837,594 1.03 1.03

Fortis Inc/Canada Canada 679,990,889 83,135,077 0.54 0.54

Fortum OYJ Finland 1,767,704,333 216,117,947 1.23 1.23

Futuren SA France 17,269,466 2,111,349 0.56 0.56

Gallant Venture Ltd Singapore 22,957,763 2,806,796 0.54 0.54

Gas Natural SDG SA Spain 1,654,850,159 202,320,497 0.87 0.87

Genesis Energy LtdNew

Zealand117,678,927 14,387,320 0.8 0.8

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017388

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Glow Energy PCL Thailand 17,405,103 2,127,932 0.06 0.06

GMR Infrastructure Ltd India 102,274,391 12,503,975 0.59 0.59

Great Taipei Gas Co Ltd Taiwan 20,364,887 2,489,793 0.54 0.54

Grupo Energia Bogota SA ESP Colombia 1,104,466 135,031 0

Guangdong Investment Ltd China 357,883,313 43,754,493 0.5 0.5

Gujarat Gas Ltd India 135,798,575 16,602,612 0.92 0.92

Hawaiian Electric Industries IncUnited

States175,984,611 21,515,721 0.55 0.55

Hera SpA Italy 662,038,104 80,940,185 1.56 1.56

Hokkaido Gas Co Ltd Japan 12,437,839 1,520,639 0.64 0.64

Hong Kong & China Gas Co Ltd Hong Kong 1,368,068,012 167,258,769 0.61 0.61

Huadian Fuxin Energy Corp Ltd China 12,062,702 1,474,775 0.07 0.07

Hydro One Ltd Canada 450,169,908 55,037,369 0.52 0.52

Hyflux Ltd Singapore 12,280,501 1,501,403 0.68 0.68

Iberdrola SA Spain 11,426,469,447 1,396,989,913 2.85 2.85

IDGC of Centre and Volga Region

PJSCRussia 37,643,381 4,602,246 0.78 0.78

IDGC of Centre PJSC Russia 46,261,519 5,655,892 2.17 2.17

IDGC of the North-West PJSC Russia 6,550,569 800,867 0.93 0.93

IDGC of the South PJSC Russia 12,559,364 1,535,497 2.97 2.97

IDGC of Volga PJSC Russia 9,705,523 1,186,589 0.35 0.35

Indraprastha Gas Ltd India 70,285,044 8,592,987 0.23 0.23

Infigen Energy Australia 55,737,990 6,814,477 1.32 1.32

Infraestructura Energetica Nova SAB de

CVMexico 694,348,694 84,890,449 1.12 1.12

Innergex Renewable Energy Inc Canada 250,653,622 30,644,687 2.46 2.46

Innogy SE Germany 1,159,307,745 141,735,926 0.65 0.65

Interconexion Electrica SA ESP Colombia 415,547,019 50,804,406 0.96 0.96

Inter RAO Lietuva AB Lithuania 3,245,682 396,814 0.58 0.58

Inter RAO UES PJSC Russia 330,812,391 40,444,826 0.01 0.66

Iren SpA Italy 429,610,761 52,523,827 1.37 1.37

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017389

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Italgas SpA Italy 823,114,011 100,633,181 2.03 2.03

Iwatani Corp Japan 171,319,539 20,945,373 1.29 1.29

Just Energy Group Inc Canada 124,408,072 15,210,019 2.4 2.4

Kansai Electric Power Co Inc/The Japan 683,822,063 83,603,473 0.73 0.73

Kenya Power & Lighting Ltd Kenya 20,540,445 2,511,256 1.46 1.46

Keppel Infrastructure Trust Singapore 94,936,661 11,606,871 0.7 0.7

Korea Gas Corp South Korea 137,332,271 16,790,120 0.46 0.46

Kyushu Electric Power Co Inc Japan 322,291,634 39,403,086 0.79 0.79

Light SA Brazil 44,388,137 5,426,854 0.53 0.53

Luz del Sur SAA Peru 13,809,574 1,688,346 0.09 0.09

Lyonnaise des Eaux de Casablanca Morocco 25,290,877 3,092,040 0.58 0.58

Manila Water Co Inc Philippines 252,446,426 30,863,874 2.67 2.67

Mercury NZ LtdNew

Zealand191,598,230 23,424,628 0.71 0.71

Meridian Energy LtdNew

Zealand242,304,679 29,623,953 0.56 0.56

Metro Pacific Investments Corp Philippines 650,053,995 79,475,019 1.84 1.84

Middlesex Water CoUnited

States31,182,976 3,812,403 0.58 0.58

MMC Corp Bhd Malaysia 4 1 0

Moscow United Electric Grid Co PJSC Russia 11,597,829 1,417,940 0.19 0.19

Mytrah Energy Ltd India 5,469,823 668,736 1.12 1.12

National Fuel Gas CoUnited

States294,840,926 36,046,987 0.77 0.77

National Grid PLCUnited

Kingdom8,069,081,765 986,518,704 2.47 2.47

New Jersey Resources CorpUnited

States29,277,560 3,579,448 0.1 0.1

NextEra Energy IncUnited

States7,874,206,793 962,693,465 1.31 1.31

NHPC Ltd India 24,708,949 3,020,894 0.06 0.06

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017390

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Nippon Gas Co Ltd Japan 178,518,066 21,825,459 1.24 1.24

NiSource IncUnited

States415,694,537 50,822,441 0.59 0.59

Northwest Natural Gas CoUnited

States149,512,509 18,279,265 1.07 1.07

NorthWestern CorpUnited

States269,150,531 32,906,103 1.13 1.13

ONEOK IncUnited

States1,263,478,339 154,471,729 0.75 0.75

ONE Gas IncUnited

States212,582,592 25,990,157 0.68 0.68

Origin Energy Ltd Australia 1,061,965,135 129,834,906 1 1

Ormat Technologies IncUnited

States158,111,472 19,330,567 0.6 0.6

Orsted A/S Denmark 2,085,544,443 254,976,794 1.1 1.1

Osaka Gas Co Ltd Japan 640,310,384 78,283,774 0.98 0.98

Pacific Energy Ltd Australia 24,828,225 3,035,476 2.03 2.03

Pembina Pipeline Corp Canada 686,032,947 83,873,773 0.46 0.46

Pennon Group PLCUnited

Kingdom340,647,842 41,647,300 0.94 0.94

Petronas Gas Bhd Malaysia 27,220,229 3,327,921 0.04 0.04

Petronet LNG Ltd India 442,401,362 54,087,594 1.81 1.81

PetroVietnam Nhon Trach 2 Power JSC Vietnam 48,360,697 5,912,535 1.39 1.39

PG&E CorpUnited

States1,458,987,022 178,374,446 0.77 0.77

Pinnacle West Capital CorpUnited

States443,420,679 54,212,215 0.57 0.57

PNE Wind AG Germany 21,379,482 2,613,836 0.99 0.99

Polenergia SA Poland 20,508,737 2,507,380 1.58 1.58

Portland General Electric CoUnited

States444,952,940 54,399,548 1.34 1.34

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017391

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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Power Assets Holdings Ltd Hong Kong 1,019,165,242 124,602,229 0.69 0.69

Power Grid Corp of India Ltd India 745,701,052 91,168,742 0.56 0.56

PPL CorpUnited

States1,123,507,160 137,358,978 0.64 0.64

PTC India Ltd India 162,264,603 19,838,325 3.6 3.6

Public Service Enterprise Group IncUnited

States1,406,810,784 171,995,425 0.66 0.66

Qatar Electricity & Water Co QSC Qatar 102,430,759 12,523,093 0.23 0.23

Red Electrica Corp SA Spain 1,143,695,032 139,827,130 1.15 1.15

REN - Redes Energeticas Nacionais

SGPS SAPortugal 221,198,283 27,043,504 1.36 1.36

Romande Energie Holding SA Switzerland 9,557,543 1,168,497 0.08 0.08

Rubis SCA France 775,965,022 94,868,788 1.42 1.43

Rural Electrification Corp Ltd India 23,796,390 2,909,325 0.06 0.06

RusHydro PJSC Russia 0

RWE AG Germany 1,384,982,777 169,326,753 1.37 1.36

Saeta Yield SA Spain 116,521,915 14,245,865 1.48 1.48

Saibu Gas Co Ltd Japan 37,798,660 4,621,230 0.5 0.5

Samchully Co Ltd South Korea 32,852,472 4,016,514 0.94 0.94

SCANA CorpUnited

States218,524,146 26,716,566 0.47 0.47

Sempra EnergyUnited

States4,024,214,604 491,996,871 1.83 1.83

Severn Trent PLCUnited

Kingdom1,338,423,853 163,634,501 2.37 2.37

Shanghai Dazhong Public Utilities

Group Co LtdChina 111,886,702 13,679,168 1.07 1.07

Shizuoka Gas Co Ltd Japan 160,082,662 19,571,563 3.02 3.02

SIIC Environment Holdings Ltd China 17,545,428 2,145,088 0.21 0.21

SJW GroupUnited

States126,793,226 15,501,626 1.18 1.18

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017392

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

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SK Gas Ltd South Korea 224,498,376 27,446,970 3.45 3.45

Snam SpA Italy 1,687,200,156 206,275,579 1.2 1.2

Societatea Energetica Electrica SA Romania 78,786,456 9,632,362 0.96 0.96

Societatea Nationala Nuclearelectrica

SARomania 24,593,003 3,006,719 0.54 0.54

Southern Co/TheUnited

States2,237,932,898 273,607,670 0.57 0.57

Southwest Gas Holdings IncUnited

States301,910,828 36,911,347 0.96 0.96

South Jersey Industries IncUnited

States15,940,291 1,948,846 0.08 0.08

Spire IncUnited

States110,016,325 13,450,497 0.37 0.37

SPCG PCL Thailand 77,314,813 9,452,440 1.52 1.52

SSE PLCUnited

Kingdom3,418,918,216 417,993,877 2.31 2.31

Suez France 1,777,604,426 217,328,324 1.98 1.98

Sunrun IncUnited

States186,596,227 22,813,087 3.6 3.6

Taiwan Cogeneration Corp Taiwan 6,909,250 844,719 0.16 0.16

Terna Energy SA Greece 639,054 78,130 0.01 0.01

Terna Rete Elettrica Nazionale SpA Italy 872,605,113 106,683,919 0.91 0.91

TerraForm Power IncUnited

States242,901,887 29,696,967 1.68 1.68

TGC-1 PJSC Russia 127,465,115 15,583,771 1.96 1.96

Tianjin Capital Environmental Protection

Group Co LtdChina 23,829,905 2,913,423 0.36 0.36

Tianjin Development Holdings Ltd China 31,427,253 3,842,268 0.75 0.75

Tohoku Electric Power Co Inc Japan 412,799,215 50,468,462 0.78 0.78

Toho Gas Co Ltd Japan 139,574,335 17,064,233 0.58 0.58

Tokyo Electric Power Co Holdings Inc Japan 382,752,033 46,794,921 0.74 0.74

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017393

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.

Page 394: 31 DECEMBER 2017 GOVERNMENT PENSION FUND GLOBAL … · 2018-02-27 · GOVERNMENT PENSION FUND GLOBAL HOLDINGS OF EQUITIES AT 31 DECEMBER 2017 Country Market value NOK Market value

Tokyo Gas Co Ltd Japan 1,131,487,005 138,334,587 1.32 1.32

Torrent Power Ltd India 13,974,562 1,708,517 0.08 0.08

Towngas China Co Ltd Hong Kong 99,844,089 12,206,849 0.55 0.55

TOKAI Holdings Corp Japan 136,572,066 16,697,178 1.41 1.41

TPC Power Holdings Co Ltd Thailand 55,159,427 6,743,742 3.8 3.8

TPI Polene Power PCL Thailand 255,769,024 31,270,092 1.49 1.49

TransAlta Renewables Inc Canada 260,053,481 31,793,906 1.19 1.19

Transmissora Alianca de Energia

Eletrica SABrazil 194,637,137 23,796,162 1.07 1.07

TTW PCL Thailand 13,855,046 1,693,905 0.11 0.11

UGI CorpUnited

States607,862,182 74,316,686 0.91 0.91

Ultrapar Participacoes SA Brazil 658,245,711 80,476,531 0.64 0.64

Unimot SA Poland 7,362,143 900,089 1.48 1.6

Uniper SE Germany 761,369,708 93,084,378 0.81 0.81

United Utilities Group PLCUnited

Kingdom1,909,812,192 233,491,927 3.05 3.05

Vector LtdNew

Zealand76,852,485 9,395,916 0.38 0.38

Vectren CorpUnited

States348,315,853 42,584,784 0.79 0.79

Veolia Environnement SA France 3,635,199,177 444,436,193 2.92 3.09

Verbund AG Austria 279,842,083 34,213,242 0.41 0.41

Voltalia SA France 94,936,525 11,606,854 1.3 1.95

WGL Holdings IncUnited

States136,994,651 16,748,843 0.38 0.38

WHA Utilities and Power PCL Thailand 451,114 55,153 0.01 0.01

YTL Corp Bhd Malaysia 10,459,936 1,278,822 0.04 0.04

Country Market valueNOK

Market valueUSD Voting Ownership

GOVERNMENT PENSION FUND GLOBAL HOLDINGS 2017394

Equities Country association according to FTSE (the benchmark provider for equities). If a company is not in the benchmark, thecountry of incorporation and country of listing is used. For remaining securities, a further assessment is made. Country isdefined as a sovereign state currently member of the United Nations. Exceptions are Hong Kong and Taiwan. The countryassociation methodology was updated as of 2014.


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